Ford Flying, Materials Moving & Some Real Early-Cycle Optimism
A different industrial tape
Here is the industrial specialist at Morgan Stanley's latest read on the diverse sector through the lens of pure price action. Forget earnings models and target prices for a moment—these are simply the charts that look strongest, weakest, or most vulnerable to a meaningful move in either direction right now. The message: early-cycle groups such as autos, materials, freight, and airlines are improving, while several crowded AI and electrical winners are beginning to look vulnerable.