Saturday, March 15, 2008

Consumer Discretionary Sector Update for 03.15.2008

SELECT SECTOR SPDR CONSUMER DISCRETIONARY ETF - XLY

Monthly chart shows continued selling pressure. No buy signal/pattern evident on this timeframe. When the current support breaks, the next downside target is the .786 fib level.

Weekly chart shows continued selling pressure. No buy signal/pattern evident on this timeframe. Trading activity shows consolidation/trading range before the next move down.

Daily chart shows consolidation/trading range. Look for eventual break of current support and a lower low to be made.

No comments: