SELECT SECTOR SPDR CONSUMER DISCRETIONARY ETF - XLY
Monthly chart continues to show weakness with no buy signal/pattern evident on this timeframe. Expect to see a test of the January low and finally a break of that low.
Weekly chart shows down trendline remains intact. Chart shows price to be in consolidation/trading range. Expect the low to be broken, and a lower low put in before we can see any significant retracement of the whole move down.
Daily chart shows the bulls found support off the .618 fib level for now. Pattern suggests eventual lower low to be put in.
Saturday, March 08, 2008
Consumer Discretionary Sector Update for 03.08.2008
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