Industrial Revolution:
One major S&P sector has been making its presence felt over the last one quarter. The industrials have quietly been climbing the leaderboard and this is a group one wants to take a very close look at if this rally is just getting started. Over the last one week the XLI is the best performer up nearly 3%. Over the last month, it is the second best of 11 sandwiched between the surging technology and discretionary spaces, and during the last 3 months, it is the 3rd best behaved. Solid consistency fueled by defense, aerospace, and waste services. Perhaps not the most sexy, and within the most economically sensitive areas are fragile including railroads, delivery services, trucking, and airlines. Ideally, bulls would like to see the IYT play some serious catch up to the XLI on a PRICE comparison chart here. I still get a chuckle out of the top holdings list with UBER being the second largest and it is now well above the 77.68 double bottom breakout pivot from 4/24 and any pullback toward 80 should be bought aggressively (even rival LYFT is up after market handsomely). Remember the days of TSLA up, UBER down correlation? Me neither. Rounding out the entire group is the bullish action of the XLI below. This move could just be getting started.