The SPDR Industrial Sector ETF (XLI) met our $70.30 per share upside target today, first mentioned in our August 25th Asbury Alert entitled Industrial Sector SPDR (XLI) Poised To Resume Its 2016 Advance (access requires subscription), to capture a $2.68 per share, 4% advance in a little less than a month.
XLI outperformed the S&P 500 (SPX) by 1.5% during the same period.
Note that price targets being met do not necessarily mean that the directional move is over — only that our initial expectations have been met.
Here is the chart that appeared in our August 25th report.
Here is the updated version of that chart through this morning.
We publish these notifications for 3 reasons:
- to let Asbury Research subscribers know when to consider taking profits on existing positions,
- to let non-subscribers track what we are doing in the market, in real time, and
- to make everyone aware of a potential upcoming price reversal as price advances often end as upside targets are met and more savvy investors take profits.
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