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The Industrial Sector (XLI) : Relative Support?
May 24 2016 ​( From TradingView )
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​​​​The Situation

​

​​​Since the bottom price at 46.82 reached on January 20 2016,
the Industrial Sector ETF (XLI) had a strong bull phase and 
reached almost the previous hig of February 2015.​
​​( First chart below ).​​

It is trading within a Range Trade Channel that started back 
​since ​April 6 2016 anod now near Support Zone. 
​(See first chart below - Channel).

​​​​The Industrial Sector ETF (XLI) started to outperform since 
​January 25 2016 ​​compare to the Mighty SP500 (SPY ETF)... ​ 
​We broke on February 4 2016 the major resistance trendline ​on a relative basis. ​
​(See second chart below - Yellow Trendline - Ellipse). But we are still far on a relative basis of the level reached back on June 9 2014 for the XLI ETF.

We closed on May 23 2016 near the Support Trendline on a relative basis that started back since February 12 2015 on the XLI ETF.  ​(See Second chart below - Ellipse - Blue Trendine).
​
Bulls need to protect that zone for the XLI ETF unless, a gap down is expected and test the previous breakout trendline. (See second chart below - Yellow Trendline).



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The Industrial Sector (XLI) : Relative Support?  $SPY, $XLI #Trading #Investing #SP500 #xli


DAILY RATIO
Industrial Sector ​ ETF XLI
over SP500 Index ( 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 )​







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Financialiceberg.com