The largest trade observed on the XLI Wednesday also has the most time on its side.
The daily chart of XLI appears to show a rising wedge formation, lines c and d.
Leading the way are the Transports (NYSE:IYT), Financials (NYSE:XLF), Industrials (NYSE:XLI), Homebuilders (NYSE:XHB) and the Russell 2000 (NYSE:IBM).
In fact, the correlation between the Utilities Select SPDR (XLU) and the Industrial Select SPDR (XLI) was just 0.57.
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Industrials (XLI), after leading the market during January and the first half of February, are taking a break and consolidating in a higher level range.
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The daily relative performance broke its downtrend, line h, at the start of November just before the final wave of selling took XLI to its correction low.
The stock is certainly economically sensitive and carries a beta coefficient in excess of 2, but XLI the Industrial sector SPDR has returned only 7% in that time.
Among the largest underlying components of XLI, in trading today United Parcel Service ( UPS) is down about 1%, and Union Pacific ( UNP) is lower by about 1.5%.
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Among the largest underlying components of XLI, in trading today General Electric Company ( GE) is up about 1.1%, and United Technologies Corporation ( UTX) is up by about 1.4%.
The bullish action of the weekly chart of the Select Sector SPDR Industrials ( XLI) was discussed last Friday as it suggested that a major bottom has been completed.
Among the largest underlying components of XLI, in trading today United Technologies Corporation ( UTX) is down about 0.7%, and United Parcel Service Incorporated ( UPS) is lower by about 0.5%.
Among the largest underlying components of XLI, in trading today General Electric Company ( GE) is off about 2.3%, and United Parcel Service Incorporated ( UPS) is lower by about 0.4%.
The Select Sector SPDR Industrial ( XLI) is up 6.8% since the start of the year and the weekly chart shows the breakout above resistance, line h, at the start of the New Year.
According to the ETF Finder at ETF Channel, GWW makes up 1.22% of the Industrial Select Sector SPDR Fund ETF ( AMEX: XLI )which is trading higher by about 0.6% on the day Tuesday.
So for you Sky customers with absolutely nothing else to do on February 4th, be sure to take a gander at Super Bowl XLI, if for no other reason than seeing our football in a whole new dimension.
Among the largest underlying components of XLI, in trading today Honeywell International, Inc. ( NYSE: HON) is up about 0.8%, Danaher Corp. ( NYSE: DHR) is up about 0.5%, and CSX Corp. ( NYSE: CSX) is lower by about 0.7%.
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Among the largest underlying components of XLI, in trading today Honeywell International, Inc. ( NYSE: HON) is off about 0.8%, Boeing Co. ( NYSE: BA) is down about 0.3%, and Emerson Electric Co. ( NYSE: EMR) is lower by about 0.6%.
Among the largest underlying components of XLI, in trading today United Parcel Service Incorporated ( NYSE: UPS) is trading flat, 3M Company ( NYSE: MMM) is up about 0.1%, and Emerson Electric Company ( NYSE: EMR) is lower by about 1.1%.
Among the largest underlying components of XLI, in trading today Union Pacific Corp ( NYSE: UNP) is trading flat, United Parcel Service Inc ( NYSE: UPS) is off about 0.7%, and Cummins, Inc. ( NYSE: CMI) is lower by about 0.3%.
Among the largest underlying components of XLI, in trading today Honeywell International Incorporated ( NYSE: HON) is up about 1.7%, Emerson Electric Company ( NYSE: EMR) is up about 1.1%, and Cummins Incorporated ( NYSE: CMI) is higher by about 1.1%.
Among the largest underlying components of XLI, in trading today United Parcel Service Inc ( NYSE: UPS) is up about 0.4%, United Technologies Corp. ( NYSE: UTX) is up about 1%, and 3M Co ( NYSE: MMM) is up by about 0.2%.
Among the largest underlying components of XLI, in trading today Union Pacific Corp ( NYSE: UNP) is down about 1.3%, Caterpillar Inc. ( NYSE: CAT) is up about 0.1%, and United Parcel Service Inc ( NYSE: UPS) is up by about 0.2%.
Among the largest underlying components of XLI, in trading today General Electric Co ( NYSE: GE) is up about 0.4%, United Parcel Service Inc ( NYSE: UPS) is up about 0.8%, and 3M Co ( NYSE: MMM) is lower by about 0.1%.
Among the largest underlying components of XLI, in trading today General Electric Co ( NYSE: GE) is up about 1.1%, United Parcel Service Inc ( NYSE: UPS) is up about 1%, and Boeing Co. ( NYSE: BA) is lower by about 0.2%.
Among the largest underlying components of XLI, in trading today United Parcel Service Inc ( NYSE: UPS) is down about 0.1%, United Technologies Corp. ( NYSE: UTX) is off about 0.6%, and Union Pacific Corp ( NYSE: UNP) is higher by about 0.6%.
Among the largest underlying components of XLI, in trading today United Parcel Service Inc ( NYSE: UPS) is off about 0.4%, United Technologies Corp. ( NYSE: UTX) is down about 0.5%, and Union Pacific Corp ( NYSE: UNP) is lower by about 0.1%.
Among the largest underlying components of XLI, in trading today General Electric Co ( NYSE: GE) is up about 0.3%, United Parcel Service Inc ( NYSE: UPS) is up about 0.2%, and Union Pacific Corp ( NYSE: UNP) is lower by about 0.2%.
Among the largest underlying components of XLI, in trading today General Electric Co ( NYSE: GE) is up about 0.6%, United Parcel Service Inc ( NYSE: UPS) is up about 0.8%, and United Technologies Corp. ( NYSE: UTX) is lower by about 0.1%.
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