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Friday
Jul292011

Industrials Sector Collapses

DateFriday, July 29, 2011 at 08:53AM

Since the S&P 500 made its intraday high on July 7th, things have sold off quite a bit.  Nothing has sold off more than the Industrials sector.  As shown below, the sector is down 9.37% since 7/7 and it's sure to open down another percentage point or more this morning.  Below the table, we provide a six-month chart of the sector, which highlights the fact that it completely broke below support yesterday and is now like catching a falling knife.

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