Industrial Sector Update for 06.29.2008

SELECT SECTOR SPDR INDUSTRIAL SECTOR ETF - XLI

Monthly chart shows huge selling pressure as the bears managed to claw back almost all the gains made by the bulls since the January 2008 low. Lower high possibly being made here. No buy signal/pattern evident on this timeframe. The October 2007 high was made with regular divergence. Look for a retracement of the whole move up off the October 2002 low.

Weekly chart shows an abc 3 wave pattern into .786 fib resistance, creating a bearish gartley butterfly pattern. Look for the current low at the $32.40 level to be tested and then broken as the bears take it down to lower lows.

Daily chart shows aggressive selling as the bears gapped down the price at the open of trading. Look for continued weakness and lower low to be made. Initial downside target is at the 1.27 fib level of $30.40 area.

XLI Update for 04.13.2008

SELECT SECTOR SPDR INDUSTRIAL SECTOR ETF - XLI

Monthly chart shows price below the 8ema. No buy signal/pattern evident on this timeframe.

Weekly chart shows a large bearish engulfing candle pattern created by last week's trading activity. Look for a test of the January low and lower.

Daily chart shows major change in investor sentiment, as the bears gapped down the open on Friday and closed near its lows for the trading session. There is currently an abc 3 wave pattern evident on the charts. Look for continuation lower in the week(s) to come.

Industrial Sector Update for 03.15.2008

SELECT SECTOR SPDR INDUSTRIAL SECTOR ETF - XLI

Monthly chart shows price below both the 8ema and the up trendline in place. No buy signal/pattern evident on this timeframe.

Weekly chart shows consolidation/trading range. Price below all key moving averages.

Daily chart shows selling pressure came back into the market on Friday. Look to next week for better indicator of direction.

Industrial Sector Update for 03.08.2008

SELECT SECTOR SPDR INDUSTRIAL SECTOR ETF - XLI

Monthly chart shows continued weakness. No buy signal/pattern evident.

Weekly chart shows increasing bearishness. No buy signal/pattern evident.

Daily chart shows increasing weakness and short term support is broken with Friday's trading activity.

Industrial Sector Update for 03.01.2008

SELECT SECTOR SPDR INDUSTRIAL SECTOR ETF - XLI

Monthly chart shows continued weakness. No buy signal/pattern evident on this timeframe.

Weekly chart shows price stuck in large consolidation range.

Daily chart shows increasing selling pressure on Friday, as bears gapped down the open in their haste to exit their positions. Look for continuation lower and a test of current support of $32.42 area.

XLI Update for 02.24.2008

SELECT SECTOR SPDR INDUSTRIAL ETF - XLI

Monthly chart shows decision between the bulls and the bears. No buy signal/pattern evident on this timeframe.

Weekly chart shows consolidation/trading range pattern. Last week's price action resulted in a doji/spinning top candle pattern. Price remains below the down trendline in place. IF current support at $36 area, THEN look for retrace to test the current $32.50 area low. IF resistance at $38 area breaks, and we manage to stay above that level, THEN look for a retracement to test the current $42 area high.

Daily chart better shows the indecision between the bulls and the bears. Look to next week for early signs as to which direction is more likely.

Industrial Sector Analysis for 02.17.2008

SELECT SECTOR SPDR INDUSTRIAL ETF - XLI

Monthly chart shows high was made in October 2007, where there has been nothing but selling and weakness ever since. January's trading activity found short term support of a key LIS and prior resistance at $32.50 area where - "old resistance becomes new support". Current month's trading has been two sided, with no hint as to any strength. No buy signal/pattern evident on this timeframe.

Weekly chart better shows the strength of the early buyers off the January 2008 low. However, they were soon met with sellers. Last week's trading activity resulted in the bulls regaining back some of the ground lost to the bears the week before. No clear buy signal/pattern evident on this timeframe. IF the bears manage to take it down to test the January low, THEN look for buy signal/pattern there to go long.

Daily chart shows a test of the current high at $38 area. Friday's trading activity saw the bears gap down the open. The bulls never quite made it to close the gap, resulting in a narrow range bar and indecision between the bulls and the bears. Look for weakness next week and for price to move to test the January low.