SELECT SECTOR SPDR CONSUMER STAPLES ETF - XLP
Monthly chart shows possible 5 waves up into the December 2007 high of 29.77. Index is currently below the key LIS and prior resistance of 28.875. No buy pattern/signal evident on this timeframe.
Weekly chart shows consolidation with bulls gaining back most of what was given back by the bears the week before.
Daily chart shows Friday's price action was one of indecision between the bulls and the bears. Look to next week's trading activity for better sense of market direction.
Friday, February 15, 2008
Consumer Staples Analysis for 02.15.2008
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