The S&P Select Materials SPDR ETF (XLB, Financial) has identified significant pivot points, calculated using the DeMark method, which traders closely watch to gauge potential market movements. The established pivot high is set at $80.82, while the pivot low is marked at $79.02.
In technical analysis, a bullish signal may emerge if XLB's price surpasses the pivot high of $80.82, suggesting potential upward momentum. Conversely, if the price falls below the pivot low of $79.02, this could indicate a bearish trend, pointing to potential declines.
Investors and market participants keep a close eye on these pivot points to inform their trading strategies and anticipate possible shifts in the ETF's performance.
