SELECT SECTOR SPDR CONSUMER DISCRETIONARY ETF - XLY
Monthly chart shows continued weakness. No buy signal/pattern evident, despite current support off the .618 fib retracement leve. 
Weekly chart shows consolidation/trading range. IF this is wave 4, THEN look for lower low to complete wave 5.
Daily chart shows an abc 3 wave pattern in place. Price is currently below all key moving averages. Look for eventual lower low to complete wave 5.
Saturday, March 29, 2008
Consumer Discretionary Sector Update for 03.28.2008
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