- Notice material sector (XLB) is among the leading sectors since March market bottom. Material kept rising from March to September non-stop
DOW is one of the leader among mega material stocks from March to June
Consolidation consists ascending base (higher-low) and resistance was set at 46
By the end of ascending base, DOW crossed over 46 which triggered buying opportunity with sell-stop about 44-45
DOW did not finish it rally straight up but made a pullback in October. However, 44-45 offered a support and strong rebound
Then, it was a strong rally with a gap-up to its finish line +17% profits within 3 months