Over the last one week period the materials have perked up. On the ratio chart below comparing it to the S&P 500, it could be readying itself for a collision course with a break of the uptrend line. It is not a sin to break a downtrend line, but to keep a safe distance from the break is critical. Of course there will be many stops just below a downtrend line, and they sometimes exhaust themselves rather quickly. The materials space is a diverse one with gold and silver which seem to dominate news, but copper, paper, steel, chemicals and containers and packaging make up a good amount too. ISM numbers are improving as the economy rebounds slowly, and that will take a lot of the aforementioned resources to help. IP is bumping up here against its 200 day SMA within a symmetrical triangle. FCX has ran well more than 200% from the March lows to recent highs. JJC is absorbing a 10 week winning streak the weeks ending between 5/8-7/10. The GLD is forming a bull pennant formation the last month after a run from 170-195. This group will give valuable clues as to the pace and firmness of this nascent economic rebound.