Wednesday, May 27, 2015

Industrials ($XLI) Test Support

Here's an update of a chart I posted a while back. You can see that Industrials, as tracked by the XLI, broke out early in May. The rally stalled, and on Tuesday XLI came back to test the former downtrend. It seems to have successfully tested it as support, though we need XLI to move above Tuesday's candle to confirm this. 

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(Updated chart)

Conservative investors will wait for a breakout over the highs it made last week.

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