Technology and Consumer Discretionary tend to lead the start of bull markets and Industrials should follow up.
The Industrials ETF
XLI
is not outperforming the
SPX
but,
ROK
certainly is.
Maybe will be the sector's leader, is ranked #6 by IBD in its industry group (
GAST
).
With higher lows and higher highs since June of 2022, Rockwell Automation is about to make new 52-week highs from a cup pattern. With the OBV already making new highs.
Will there be a handle? Maybe, it just had 4 weeks in a row closing higher. Let's wait and see.
I'd buy the breakout above $305 with a target sell at $350.
The Industrials ETF
XLI
is not outperforming the
SPX
but,
ROK
certainly is. Maybe will be the sector's leader, is ranked #6 by IBD in its industry group (
GAST
). With higher lows and higher highs since June of 2022, Rockwell Automation is about to make new 52-week highs from a cup pattern. With the OBV already making new highs.
Will there be a handle? Maybe, it just had 4 weeks in a row closing higher. Let's wait and see.
I'd buy the breakout above $305 with a target sell at $350.
Comment:
Breakout!
