Today’s Chart of the Day was shared by David Zarling (@AdaptivCharts). It's a daily candlestick chart of the Industrial sector ETF, $XLI, over the past three years. The top-weighted holdings in this sector include, $UNP, $UPS, $RTX, $HON, and $BA. David points out that $XLI broke a key support level today, closing at its lowest level in nearly a year. The Industrial sector is one of the most positively correlated sectors to the S&P 500. This is another one to add to the growing list of bearish developments for the broader market.
Chart of the Day - Wednesday, February 23rd, 2022
February 23, 2022
