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Archive
- 10/11/2024 -
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Industrial Select Sector SPDR (XLI) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a fifth consecutive positive week for the Industrial Select Sector SPDR (XLI). During the week, the XLI gained 2.91 points, or 2.15%, and closed at 138.42 on Friday, October 11, 2024. Weekly volume was -34% below average.
 Long-term trend: [See XLI long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 15.14 and reached 138.47 on October 11, 2024. XLI gained -123.33 points, or -814.60%, in 814 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (94.21) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See XLI medium-term trend chart]
A medium-term uptrend had started on August 5, 2024 at 119.17 and reached 138.47 on October 11, 2024. XLI gained -19.30 points, or -16.20%, in 9 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See XLI weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range or strongly overbought weekly Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since August 23, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
Short-term trend: [See XLI short-term trend chart]
A short-term uptrend had started on September 11, 2024 at 125.11 and reached 138.47 on October 11, 2024. XLI gained -13.36 points, or -10.68%, in 30 days. Price is near the trend high.
 Daily Technical Indicators: [See XLI daily technical indicators chart]
Daily technical indicators are neutral. Daily Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Relative Strength Index help.
The daily MACD line is above its signal line since October 10, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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