Always consider hidden risks
The Industrial Sector (XLI) : At Major Support?
June 28 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
​high of February 2015.​ ​​(See First chart below ).​​

It was trading within a Huge Uptrend Channel that started back ​since ​
​January 20 2016. We did have a break down on June 24 and now into a
​new Daily Downtrend Channel on the support trendline. 
​ ​(See first chart below - Channels - Ellipse).

​​​​As we are now testing the Support from that Downtrend Channel, at the ​same
​time we are at the Major Support Trendline (previous breakout Trendline) ​that
​​started back since ​February 25 2015.(See first chart below-Red Trendline-Ellipse)​
Take note of the strong volume as we test those supports.
​( See first chart below - Bottom Right - Blue Area)

​​The Industrial Sector ETF (XLI) started to under perform since ​March 21 2016 ​​compare to the Mighty SP500 (SPY ETF)... ​ ​
​We broke on June 27 2016 the support trendline ​on a relative basis. ​​(See second chart below - Blue Trendline - Ellipse).
​We are still above the 2000 DMA (Da Moving Average) on a relative basis. (See Second chart below - Green Line).

Performance on a relative basis have been weak lately as we are making lower highs and lower lows and the XLI ETF is just catching up price wise on the broad market, not a sign of strenght indeed. (See second chart below).


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