Materials Select ETF (XLB) made a key breakout today putting in a bullish long/buy signal after consolidating in a very slender ascending triangle. I've just started following XLB but my momentum indicators are about to bullishly crossover and my long-term indicators are all bullishly aligned. Furthermore, EMA's have just kissed and not bearishly crossing over. The theme here I think is important though because it can be applied to the broader market, and that's the dips should still be bought. We have to rationally over-ride every urge we have to bet against this market regardless of what we read regarding P/E ratio's and VIX purchases. I agree with all arguments that this charade has gone on long enough but change needs to come slowly in small bites that can be readily understood and disseminated by the market in the least destabilzing way. Today, an article was put on Reuters ("Eight Fed Banks Urge Discount Rate Increase") that I think signals this gradual change in direction.