The Industrial Conclusion?

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The XLI ticker symbol does not get much press, but that sector ETF for the industrials is sporting an intriguing, multi-year symmetrical triangle near resolution. Note the significance of breaking through the $38 level, on the weekly timeframe above. Led by General Electric and quite a few transports attempting to carve out an important low, the once-dead money industrials might have one final dance before the cyclical bull since March 2009 comes to a close.

Components and weightings as of 10/5/12. for XLI, courtesy of Select SPDR’s.

Name Symbol Index Weight
1 General Electric Co. GE 13.66%
2 United Technologies Corp. UTX 5.17%
3 Union Pacific Corp. UNP 4.76%
4 3M Co. MMM 4.68%
5 Caterpillar Inc. CAT 4.50%
6 United Parcel Service Inc. Cl B UPS 4.04%
7 Honeywell International Inc. HON 3.82%
8 Boeing Co. BA 3.79%
9 Emerson Electric Co. EMR 2.86%
10 Danaher Corp. DHR 2.80%
11 Deere & Co. DE 2.74%
12 Cummins Inc. CMI 2.27%
13 Illinois Tool Works Inc. ITW 2.10%
14 FedEx Corp. FDX 2.05%
15 CSX Corp. CSX 2.03%

3 Responses to “The Industrial Conclusion?”

  1. Thanks for the chart. With the election and fiscal cliff coming up, I would be really surprised if this broke upward anytime before next March. But let’s see…

  2. […] we observed last fall working through the final stages of multi-year symmetrical triangles. In this blog post last October, we were on watch for General Electric and the rest of the gang to lead them up and […]

  3. […] 2013 to all-time highs, surging above well-defined resistance at $62. I pointed out last October in this post that the industrials, as a group, were on the cusp of a major move, and Honeywell is indeed one of […]

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