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The S&P 500 index is working hard to break above its 2011 highs. What does it need to help push it a good deal higher?
It could us a break above resistance by the Basic Materials ETF (IYM) and the Small caps (Russell 2000). IYM remains 10%+ below its 2011 highs and its facing dual resistance at this time.
Should IYM break above the $74-$75 level, this relative underperformer could start reflecting relative strength!
