
Among the stronger funds within the broader sector is the First Trust RBA American Industrial Renaissance ETF (AIRR).
There were no changes to any of the First Trust Models covered within the report this week.
Industrials continue to be among the top ranked sectors within U.S. Equities as the sector has been among the top half of the NDW DALI Sector Rankings for more than three years. Among the stronger funds within the broader sector is the First Trust RBA American Industrial Renaissance ETF (AIRR), which possesses a strong 5.89 fund score, which is a full point higher than the average score for a fund within the Industrial (4.68) sector on the Asset Class Group Scores page.
On the default trend chart, AIRR has maintained a buy signal since April and a positive trend since May. Action in early August led the ETF to give a market relative strength (RS) buy signal and pull within one box of a peer RS buy signal, while the latter half of the month brought the ETF to a new all-time chart high along with a third buy signal with a double top break at $93. September’s trading has kicked off with AIRR reversing down into a column of Os and an actionable point on the chart. Initial support lies at $88, while additional can be found at $84.
Year-to-date, AIRR is up 17.9% and is outperforming the S&P 500 Index (SPX) by more than 8%.