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March 08, 2006
Consumer Discretionary Weakens
This is not a pretty picture. The Consumer Discretionary SPDR (XLY) failed to move above resistance at 34 and gapped below the rising wedge trendline. The stock remains above consolidation support at 32.8, but further weakness below this level would be bearish for the sector and the S&P 500.
Posted by Arthur B. Hill at March 8, 2006 06:08 AM