Summary Basic Materials (XLB) broke out of a multi-month consolidation, with unusually broad strength in copper and agricultural input stocks creating several attractive trend-trading setups. The strength in economically sensitive Materials supports the narrative of a healthy economy with persistent inflation. As a result, long-term interest rates are unlikely to retreat from their important breakout levels. Gold and gold miners have a new powerful tailwind coming from the White House – conflicting policies and market
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