Brute Strength:
The industrial sector is taking on all rivals as of late. On a one-week, one-month, and three-month look back period the XLI is the second-best performer of the major S&P sectors, and impressively on each of those time frames there are different groups just ahead of them. On the one week it is technology, the one month is energy, and the three month the utilities. On the WEEKLY chart, we see it is not out of the ordinary to see robust runs. Notice the 20 of 22-week win streak between the weeks ending 11/3/23-3/29 and then digestion until the bullish WEEKLY piercing line candle the week ending 8/9. The ETF has now gained 9 of the last 10 weeks, and it is certainly plausible for another 10-12 weeks of firm PRICE action into the traditional solid seasonality period (and notice the lagging action on the WEEKLY ratio chart versus the S&P 500 since the start of 2023 is not doing that any longer since this summer).