On long term perspective price has failed its 5-year uptrend (fell below 5-year uptrend border) and tested its 10-year trend during the august selloff (tagged the 10-year uptrend border). The 10-year uptrend test proved successful and the price has been recovering since then.
On short term perspective nothing stands in the way of the recovery, as price is showing no short term trends - XLI is trading within 1st standard deviations from 1-year and quarterly means.
Thus price is likely to return into long term uptrend if it breaks above 55. Downside risk will be apparent below 50 level.