Metals & Miners SPDR Breaks Support and Shows Relative Weakness

After stalling in March and April, the Metals & Miners SPDR (XME) turned lower in May and broke a key support zone. Notice how XME held the 41 area for two months and then broke this zone twice in May. The indicator window shows the price relative (XME:SPY ratio) also breaking down in May as XME underperforms the S&P 500 SPDR.


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