Consumer Discretionary Sector Update for 03.22.2008

SELECT SECTOR SPDR CONSUMER DISCRETIONARY SECTOR ETF- XLY

Monthly chart shows current support off the January low holding. No real buy signal/pattern evident yet though.

Weekly chart shows the early buying last week. Short term, there is a successful test of the January low.

Daily chart shows a higher low right at the .786 fib area for support. Still possible market is stuck in a consolidation/trading range. First resistance area that the bulls will have to contend with is the high at the $33 area. Next week should be interesting -- as it can still either way.