Don't Ignore This Chart!

Aroon Crosses Bearish for the Industrials SPDR

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The Industrials SPDR (XLI) is under pressure today after a weak manufacturing report. The chart below shows XLI falling to a support zone marked by broken resistance and the June trend line. This sets up an important test because the Aroon down crossed above Aroon green and hit +100 for the first time since June 4th.

120904xli
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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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