Stocks Rally as Investors Continue to Rotate from Defensive Sectors of the Market
- Another Record Close for the SPY and QQQ; The Dow Joins the Party
- Cyclical Sectors Continue to See Improving Relative Strength
- Bond Proxies Under Pressure as Rates Move Higher
- Industrials Break to New Highs with the Market
- Futures Point to a Higher Open Today
Key Chart – Industrial Select Sector SPDR Fund – XLI
The Industrial Select Sector SPDR Fund (XLI) has a Bullish Chaikin Power Gauge ETF Rating as it breaks to new highs with the broader market. The fund is beginning to outperform the SPY and Chaikin Money Flow is bullish. XLI is above the rising long-term trend line and has a bullish Power Bar Ratio at 12 to 8.
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