Trading Places with Tom Bowley

Another Industry Breakout And A Stock That's Leading The Charge

Tom Bowley

Tom Bowley

Chief Market Strategist, EarningsBeats.com

The good news is that this breakout in the S&P 500 is littered with mini-breakouts in various sectors and industry groups. One of the latest industry groups to join the party is diversified industrials ($DJUSID), home of General Electric (GE). The former closed at a 52 week high on Friday and it's clearly due to the recent strength in GE:

GE's strength has also been accompanied very strong volume, though it's not reflected in the chart above. Wide participation in bull markets brings just about every company along for the ride, even a beaten-down bellwether like GE.

During Trading Places LIVE this morning at 9:00am EST, I will be discussing plenty of industry group that are making breakouts or on the verge of it. It's an impressive list and will very likely carry the S&P 500 to further gains as we approach year end. You can join me for the show by clicking the link below:

https://zoom.us/j/248920901

Also, we are so excited to be sponsoring "Market Vision 2020", an online financial conference on Saturday, January 4, 2020, to kick off the new year. We have confirmed a star-studded lineup of speakers to provide their very own "market vision" for 2020 and will be releasing those names tomorrow in our first Market Vision 2020 newsletter update. Please make sure you're subscribed so that you get the latest updates (and save a bunch of money if you decide to attend). CLICK HERE to subscribe to the free newsletter. There will be lots of giveaways and free educational events for all those that simply follow along. Don't be left out!

Happy trading!

Tom

Tom Bowley
About the author: is the Chief Market Strategist of EarningsBeats.com, a company providing a research and educational platform for both investment professionals and individual investors. Tom writes a comprehensive Daily Market Report (DMR), providing guidance to EB.com members every day that the stock market is open. Tom has contributed technical expertise here at StockCharts.com since 2006 and has a fundamental background in public accounting as well, blending a unique skill set to approach the U.S. stock market. Learn More