XLI SHORT SETUPXLI has been getting weaker with stocks like MMM
I see consolidation on the weekly now and a setup for the summer if my sell stop is hit. I have marked the fractal on the chart.
XLI trade ideas
Industrial SectorHere too, there is room for some vertical upside to 60...
If below 53: it could collapse
I think big correction pending either way...
If wrong, market rallies to 68 in october - i dont think so but technically possible.
XLI BulishXLI is showing great strength as is 3M after its fall from a analyst report. This sector shows great accumulation over the last 3 months and even until this week. A buy area for me would be a retest of the previous high on a pullback
1. one of the strongest sectors over the last 3 months and under accumulation last week
2.above the cloud all three time frames: bullish
3.above tenken and kijun line all three time frames with both pointing up bullish
4.broken out of its consolidation pattern this week: bullish.
5. Chickou line above price from 26 days ago: bullish
overall market bullish
6. 3M is another chart to look at in this group
