[pcabc]

The MA is sloping up on the Materials SPDR EFT, XLB:
Breadth calculated from the constituents of XLB plus a few others.

CLF is in the steel sector. So I think you need to delve deeper into the specific sector too, as the XLB includes the gold stocks. So need to separate from that to get a better sector view of it. See attached $DJUSST steel sector chart which is in the first significant pullback of early Stage 2.

Thanks. Already have SLX, a steel ETF and have a number of steel producers in my screener. However, missed CLF for some reason. I could try calculating breadth for the steel sector but with only eight steel companies I wonder if it is worthwhile?

Edit, just added a few more!