DailyPlay – SPDR Industrial ETF (XLI) – March 8, 2022

View XLI Trade

XLI Bearish Opening Trade Signal

Strategy Details

Strategy: Put Debit Spread

Strategy Direction: Bearish

Details: Buy to open April 14, 2022 $97/$89 Put Vertical @ $2.09 Debit. Please note that the price at the open may differ slightly due to pre-market activity and wider bid/ask spreads at the close. Adjust the strikes based on how far XLI opens from yesterday’s closing price at $97.70. Please refer to the DailyPlay video at the bottom of this email to learn more. 

Bearish Trend Signal: This is a bearish strategy on a stock or ETF that is experiencing a bearish trend.

1M/6M Trends: Bearish/Bearish

Technical Score: 6/10

Investment Rationale

Weekly Lagging Line has now broken its Base Line, while cloud top and Conversion and Base Lines are last and this week’s highs. We’ll look for this to decline to cloud bottom, using the weekly close above cloud top at $102 as an area where we know we don’t want to be short.