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A breakdown in Basic materials often does not suggest economic strength is around the corner.  Forgetting the macro picture for a minute, the breakdown in IYM increases the odds SMN might do rather well for those open to scoring on defense! Why?  See below…

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IYM fell almost 50% more than the 500 index did back in great unwind back in 2008.  Always remember, solutions are available, regardless of the macro direction of the economy!!!

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past