by Bespoke Investment group
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.