Consumer Discretionary Sector Update for 06.29.2008

SELECT SECTOR SPDR CONSUMER DISCRETIONARY ETF - XLY

Monthly chart shows increasing selling pressure during the month of June 2008. Any gains made since the low made in January 2008 have all but been erased. Currently price is below all key moving averages, and below a key LIS (old resistance becomes new support). Look for the current January 2008 support at the .618 fib level to be broken; next target is the .786 fib level at the $24.40 area.

Weekly chart better shows the smaller consolidation range the price has been stuck in. Price is below all key moving averages on this timeframe. Look for the current low to eventually break, with the next downside targets to be $26.38 and then $24.40 area.

Daily chart shows a gap down the last 2 trading sessions of last week, as bears rushed for the exits at the open. While Friday saw bottom pickers showing up at the open, they were not able to keep the buying momentum going, as they were soon overcome by bears. No buy signal/pattern evident on this timeframe as of yet. Based on pattern presented, look for continued weakness and further downside to come.

Consumer Discretionary Sector Update for 04.13.2008

SELECT SECTOR SPDR CONSUMER DISCRETIONARY ETF - XLY

Monthly chart showx continued weakness. No buy signal/pattern evident on this timeframe.

Weekly chart shows consolidation/trading range. Last week's trading activity showed weakness and the bears took back over 50% of the gains from the week before. Look for continued weakness next week.

Daily chart shows increased selling pressure on Friday, as the bears gapped down the open and traded lower all day.

Consumer Discretionary Sector Update for 03.28.2008

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.

Consumer Staples Sector Update for 03.22.2008

SELECT SECTOR SPDR CONSUMER STAPLES SECTOR ETF - XLP

Monthly chart shows support holding for now right off the Up trendline in place.

Weekly chart shows large bullish engulfing reversal candle pattern, indicating early bulls stepped back into the market.

Daily chart shows price stuck in small consolidation/trading range. We should see some follow through to the upside next .... to the .786 fib target and test of the current $29.75 area high.

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.

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.

Consumer Discretionary Sector Update for 03.08.2008

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.

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.

XLY Update for 02.24.2008

SELECT SECTOR SPDR CONSUMER DISCRETIONARY ETF - XLY

Monthly chart shows current support off the $28 area, where a large hammer candle pattern showed early bulls came back into the market. The current month's price action shows indecision between the bulls and the bears.

Weekly chart shows price right up at the down trendline in place. Resistance is currently off the .382 fib retracement level. Current short term support is off the $32.60 area, and should that break, price should see a test of the $28 area low.

Daily chart shows consolidation/trading range the past couple of weeks. Look to next week's price action for better sense of direction.

Consumer Discretionary Analysis for 02.15.2008

SELECT SECTOR SPDR CONSUMER DISCRETIONARY ETF - XLY

Monthly chart shows 5 waves up into July 2007 high of $40.70. This index made a high before the stock indices, which made their highs a few months later. The index has retraced to the .618 fib level, where early bulls started buying. No confirmed buy signal/pattern evident on this timegframe. The 32.00 level is a key LIS to watch for support/resistance.

Weekly chart shows current resistance is right at the .382 fib retracement level of the last move down. So far, we have 3 wave pattern down into the .618 fib level. Will the index be stuck in a consolidation/trading range for wave 4? Look for a confirmed buy signal/pattern to go long. IF one does not appear, and the index remains stuck in a consolidation range, THEN look for next leg down.

Daily chart shows 5 waves up into the .382 fib . Next week's trading activity should give better direction that the market want to go.