UPDATE: 1/25/12

weekly XLB.. post FOMC traded over 37 . the chart below i highlighted the imminent break out over the current level

Daily XLB (materials)

over 35.80 could trigger short covering possibly into the 40 level.. which was the ledge the XLB fell from this summer heading into the euro turmoil.

Weekly XHB (homebuilder)

Near break out over 19. 20 is the high going back 3 years.