SEI Chart, page-86

Just looking through all the individual materials stocks, it appears the better performers are all in an accumulation range, I think the whole sector just needs some time to cool off a bit.

Looking at XMJ and XMM we're currently in a pennant continuation pattern that is more likely to resolve to the upside. Take a look at ILU S32 BSL ORI AWC BHP PLS.

I know we're waiting on "news" but these things tend to coincide with the bigger picture cycle.

Patience. Watch and see.