Undeterred Ascent:

Industrial strength is nothing new as it has powered higher and if one wanted to cherry-pick a timeframe over the last 6 months it is the second-best major S&P sector out of 11 up 25%, bested only by financials. Heavy construction has led the way and perhaps we should not be surprised with wars around the globe and bridges collapsing. If one looked to the bottom of the subsectors within, they would see the only one in the red, albeit very fractionally, was the delivery services. Airlines have been a bit of a laggard, if you could say that as they have advanced 13%, and give the JETS ETF credit for holding its rising 50-day SMA following the break above the bullish inverse head and shoulders breakout. Overall the XLI, via the daily chart below, has been minding its business and climbing upward. With the exception of the first couple weeks of 2024 and and last 2, it has advanced in a very orderly fashion. The WEEKLY chart shows the fund up 20 of the last 23 weeks and last week recorded a bearish hanging man candle, but notice it brushed off the doji the week ending 3/15. Would not be surprised if it brushes off last weeks pause.

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