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.
|1||General Electric Co.||GE||13.66%|
|2||United Technologies Corp.||UTX||5.17%|
|3||Union Pacific Corp.||UNP||4.76%|
|6||United Parcel Service Inc. Cl B||UPS||4.04%|
|7||Honeywell International Inc.||HON||3.82%|
|9||Emerson Electric Co.||EMR||2.86%|
|11||Deere & Co.||DE||2.74%|
|13||Illinois Tool Works Inc.||ITW||2.10%|