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:
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
