Consumer Staples Update for 06.29.2008

SELECT SECTOR SPDR CONSUMER STAPLES ETF - XLP

Monthly chart shows huge selling pressure during the month of June 2008. While the bulls managed to make a slightly higher high, the bears managed to take the price back down below the key LIS (old resistance becomes new support) of $28.88. IF we have 5 waves up, THEN look for an abc 3 wave retracement of the whole leg up. The new high was made with regular divergence. We also have a possible lower high being made. No buy signal/pattern evident on this timeframe. All I see is a sell signal/pattern being formed at this time.

Weekly chart shows increasing selling pressure the last 2 weeks. On this timeframe, we have a lower high made, right at the .786 fib resistance. Price is currently below all key moving averages. At the very least, look for a re-test of the current short term low at $24.40.

Daily chart shows the bears were in a hurry to exit their positions on Thursday morning, as they gapped down the open, creating a kicker signal type pattern. This pattern indicates a major change in investor/trader sentiment. No buy signal/pattern evident on this timeframe as of yet. Pattern being played out suggests lower lows highly likely.

Consumer Staples Sector Update for 04.13.2008

SELECT SECTOR SPDR CONSUMER STAPLES ETF - XLP

Monthly chart shows price to be below backend resistance. No clear pattern evident on this timeframe.

Weekly chart shows bears came back into the market last week, as they took back all the gains made by the bulls the week before.

Daily chart shows price below the 8ema, but just above the 200sma. The last move up off the January 22, 2008 low shows an abc 3 wave pattern which completed two weeks ago. Look for a test of the current low as likely.

Consumer Staples Sector Update for 03.28.2008

SELECT SECTOR SPDR CONSUMER STAPLES ETF - XLP
SELECT SECTOR SPDR CONSUMER STAPLES ETF - XLP

Monthly chart shows support holding at the $26.5o level. Look for test of $29.82 area top as possible.

Weekly chart shows last week's trading activity created a doji, signally indecision between the bulls and the bears. Look to next week's trading activity for better direction.

Daily chart shows that the bulls were unable to take the price higher, despite a strong opening at the beginning of the week. At this point, price is stuck between large trading range. Look to next week's trading activity for better sense of direction.

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 Staples Sector Update for 03.15.2008

SELECT SECTOR SPDR CONSUMER STAPLES ETF - XLP

Monthly chart shows no buy signal/pattern evident at this time.

Weekly chart shows renewed selling pressure the past week. Look for a test of current low.

Daily chart shows increasing pressure evident with Friday's trading session. Look for a test of the current low and support of $24.40 level.

Consumer Sector Update for 03.08.2008

SELECT SECTOR SPDR CONSUMER STAPLES ETF - XLP

Monthly chart shows price in small consolidation range. Price is currently below the 8ema, but the moving average ribbons are intact for now.

Weekly chart shows indecision between the bulls and the bears. On this timeframe, price is below both the 8ema and the 34ema. Look for a test of the January low for now.

Daily chart shows price below all key moving averages. Price action indicates indecision between the bulls and the bears. Pattern suggests a re-test of the January low.

Consumer Staples Sector Update for 03.01.2008

SELECT SECTOR SPDR CONSUMER STAPLES ETF - XLP

Monthly chart shows weakness and February's trading activity shows indecision between the bulls and the bears. Look to next week's trading activity for indication of direction.

Weekly chart shows selling pressure with last week's trading activity. Look for continuation and test of current support.

Daily chart shows kicker type signal pattern created by Friday's trading activity, as sellers gapped down prices in their haste to exit their positions. Look for continued weakness and downside target of .618 fib at $25.75 area as the minimum target.

XLP Update for 02.24.2008

SELECT SECTOR SPDR CONSUMER STAPLES ETF - XLP

Monthly chart shows price above up trendline in place. Moving average ribbons in proper order. If current support hold, then look for test of current high.

Weekly chart shows resistance at the .618 fib retracement level. Eager bulls gapped up the price at the beginning of the week, but were soon met with bears, who tried to take price down.

Daily chart shows sloppy price movement up into current $28 area high. Look for weakness to start the move to test the current $24.40 area low.

Consumer Staples Analysis for 02.15.2008

SELECT SECTOR SPDR CONSUMER STAPLES ETF - XLP

Monthly chart shows possible 5 waves up into the December 2007 high of 29.77. Index is currently below the key LIS and prior resistance of 28.875. No buy pattern/signal evident on this timeframe.

Weekly chart shows consolidation with bulls gaining back most of what was given back by the bears the week before.

Daily chart shows Friday's price action was one of indecision between the bulls and the bears. Look to next week's trading activity for better sense of market direction.

Consumer Staples

THE CONSUMER STAPLES SELECT SECTOR SPDR - XLP
This ETF is designed to mirror the price action of the S&P Consumer Staples Index, which consists of a diverse group of 37 different stocks - primarily retail stores and companies that supply many of the products that these stores sell.

Monthly chart currently shows resistance at the double top. Move up into test of prior top at $28.96 was made with divergence in momentum indicator.

Weekly chart shows that while buyers tried to take the price higher, they were met with sellers. Price currently below backend resistance.

Daily chart shows reverse cradle pattern - indicating more bearishness.

S&P CONSUMER STAPLES INDEX - $PXV