Consumer Discretionary Sector Update for 03.01.2008

SELECT SECTOR SPDR CONSUMER DISCRETIONARY ETF - XLY

Monthly chart shows current support of .618 fib holding for now. Continued selling pressure during the month of February 2008. Look for test of the current low and possibly lower.

Weekly chart shows resistance at the .382 fib level. Index seems to be stuck in consolidation range.

Daily chart shows increasing selling pressure as bulls gapped down the open on both Thursday and Friday, and selling into the close. Look for a test of the current next week or so.