Will SpaceX Send Industrials Higher? 🌤️ The Morning Print

Good morning! 

The Industrials sector has been consolidating for nearly three months.

Maybe it's just waiting for SpaceX to IPO before making its next major move.

Let's take a look.

Since the large gap higher on April 8, Industrials have mostly churned sideways within a tight range.

Historically, this sector has one of the strongest correlations to the S&P 500, so a breakout from this consolidation would be another point in the bulls' favor.

SpaceX is set to IPO this Friday, and it will likely be added to the Industrials sector.

With volatility compressed and a major catalyst on deck, the next few weeks could be setting up for some fireworks once SpaceX begins trading.

If we also see meaningful rotation out of technology, Industrials could be one of the biggest beneficiaries.

These aren't just the same old manufacturing names anymore. 

Many companies across the sector are increasingly tied to AI-related themes, making the story far more compelling.

Industrials remain one of the market's most overlooked sectors, but I'd be betting that changes soon.