FINANCIAL ICEBERG
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 TECHNICALS
Industrial Sector (XLI) : At Major Support?
September 14 2016 ​( From TradingView )
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​​​Since the Major Price Breakout on July 8 2016, the ​​Industrial ​Sector
​​ETF  (XLI ETF) had a very strong bull phase and reached a ​new high
​ever on August 23 2016 at 59.34. ​
​​(See First chart below ).​​

It was trading within a tiny Rising Wedge that started back since
​July 20 2016 when suddenly on September 9 2016 it did break the
​Support Trendline and fell below the 50 DMA (Day Moving Average)
​then at ​58.15. Closing price on Sep 13 was 57.00.

​ ​(See first chart below - Grey Trendlines - 50 DMA Red Line).

​​​​As we are now testing the Major Support Trendline (previous Breakout
​Trendline) that started back since February 2015
(See first chart below - Red Trendline - Ellipse), it is ​done within a Stronger Volume trading environment, a good technical pattern yet... 
​( See first chart below - Bottom Right - Blue Area) Bulls need to protect that Trendline at all costs...

​​​​The Industrial Sector ETF (XLI) started to under outperform since ​August 30 2016 ​​compare to the Mighty SP500 Index (SPY ETF) after testing the Resistance Trendline on a Relative Basis... ​ ​(See Second chart below - Red Line - Ellipse).

But the real interesting part is at a time were the XLI ETF is at the Major Support Price Wise, we already broke on a relative basis (ratio of XLI to SPY ETF), a Support Trendline that started back since January 2016!
​We must realize that technicals are getting weaker already... 
   (See second chart below - Blue Trendline - Ellipse).



​​






Industrial Sector (XLI) : At Major Support?  $SPY, $XLI #Trading #Investing #SP500 #stocks #industrials#industrials
DAILY RATIO
Industrial Sector ​ ETF XLI
over SP500 Index ( SPY ETF -Candles )
​​20 DMA ( Day Moving Average - Yellow Line )​
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )

Industrial Sector  ETF XLI
Daily Candles​
​20 DMA ( Day Moving Average - Yellow Line )​
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )​
Financialiceberg.com
Financialiceberg.com