Industrials extending some strength at the end of 2023 and a...

Industrials extending some strength at the end of 2023 and at all-time highs. The Richmond Fed's regional report dropped to a 7-month low in Dec, but these readings are volatile.

Some interesting things to consider:

- New orders, shipments, and backlogs were all declining at a moderate pace.

- Inflation readings ticked higher, prices paid to 4.2% and prices received to 2.8%

I am not put off by these numbers unless they gather into a larger trend. XLI can grind higher in 2024.