Friday’s ETF Chart To Watch: XLI Flirts With Resistance Ahead Of Durable Goods Data

U.S. markets opened in red territory Thursday morning as overnight selling pressures from Japan spilled over and prompted a global wave of profit taking. Investors scaled back their risk appetites for a second day in a row as stimulus hopes started to fade following the latest FOMC minutes which revealed that the Fed could be easing up on its bond-repurchases as early as June. Despite the selling pressures, the bulls still managed to return on the home front as major U.S. benchmarks crawled higher during the entire session with the Dow Jones Industrial Average almost posting a gain on the day [see also The Cheapest ETF For Every Investment Objective]. Our ETF to watch for today is the Industrial Select Sector SPDR which could swing in either direction as investors digest the latest durable goods orders data. Analysts are expecting for this figure to post an increase of 1.4%, which would mark a major improvement following [...] Click here to read the original article on ETFdb.com. Related Posts: ETFdb Weekly Watchlist: XHB, TLT, XLI Hinge On Housing, Durable Goods And Bernanke 7 Articles ETF Investors Must Read: 5/9 ETF Insider: U.S. Bull Market Hits All-Time Highs Industrial ETFs Still Lagging After ISM Manufacturing Data Wednesday’s ETF Chart To Watch: XLI Gears Up For Rally Ahead Of Manufacturing Data