XLB to 71 (down 6.5%)
Updated
My highest conviction idea this week is that 
XLB is going to continue falling.
* February (monthly) broke above the previous month's high, but then fell.
* March, it has continued to retreat.
* It has broken down below January and December's lows, next 'target' is November's low, which is 71.27
* Quarterly chart shows a break above previous quarter's high, PLUS a retreat. This implies bearish momentum to me.
Admittedly, we are consolidating in the current zone between 75 and 78 (see daily chart). Tough to predict which way it'll break out of that.
XLB is going to continue falling.* February (monthly) broke above the previous month's high, but then fell.
* March, it has continued to retreat.
* It has broken down below January and December's lows, next 'target' is November's low, which is 71.27
* Quarterly chart shows a break above previous quarter's high, PLUS a retreat. This implies bearish momentum to me.
Admittedly, we are consolidating in the current zone between 75 and 78 (see daily chart). Tough to predict which way it'll break out of that.
Note
April 3: It's at 81 and this idea was wrong.
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