The XLI ETF for the industrials is just one of many sectors 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 out.
Updating the monthly chart below, we can see a powerful breakout here, among the many other sectors with similar chart setups like energy and financials. Note that price is now riding the upper monthly Bollinger Bands. While this indicates a short-term pause may be imminent, it overall is a sign of great strength going forward.
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