Adam Smigielski
The industrial sector (NYSEARCA:XLI) is still looking vulnerable in absolute terms, according to a technical strategy note by BTIG Analyst Jonathan Krinsky.
The index is down 2.84% from a month ago, but up 7.47% year-to-date.
“It’s the fresh relative low that is the issue right now,” said Krinsky.
Relative to the S&P 500 (SP500), industrials (XLI) are lower than levels seen in late October and January.
Four vulnerable stocks within the sector:
- Cummins Inc. (CMI) - Down 7.25% from a month ago.
- Eaton Corporation Plc (ETN) - Down 4.57% from a month ago.
- Fortive Corp. (FTV) - Down 6.13% from a month ago.
- Rockwell Automation Inc. (ROK) - Down 6.33% from a month ago.