I noted a while back the bullish look for industrials, despite bearish sentiment in other sectors. XLI began its current bull trend at an intermediate bottom on 9/26/22, and really started a strong uptrend on 11/14/22. It sits well above the cloud on the weekly. XLI is poised to overtake it's 52 week high at 105.23 in the near future. From there, we can look at a new all-time high above 107.65. I am leery of a new all time high before the summer, since I am a firm believer of sell in may and go away. But I do expect a new all time high by the fourth quarter of 2023.