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In that General Electric Company (GE) is the largest component of the Industrial Select Sector SPDR ETF (XLI) (9.1%), the fact that GE has so dramatically under-performed the XLI is a major drag on the sector, and is likely a warning signal within the Industrials that should not be ignored.
The stock market indices had an interesting, but volatile session today, coming down sharply at the opening, testing support, and when that held they rallied to midday. They pulled back in the afternoon, backed and filled, and finished not far from all-time highs on the Nasdaq 100. Although the S&P 500 failed, it did make a run at it earlier in the day. Net on the day, the Dow was up 32.60 at 20,775.60. The S&P 500 was down 2.56 at 2362.82. The Nasdaq 100 was up 1.41 at 5352.13, just a couple points off the highs. Advance-declines were 16 to 13 negative on the New York Stock
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