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March 23, 2006
XLY Holding Breakout - barely
The Consumer Discretionary SPDR (XLY) broke triangle resistance and this breakout is getting a challenge over the last few days. The upper triangle trendline extension turns into support and this breakout is OK as long as 33.6 holds. A move below 33.6 would question the breakout and put this key sector back in the trading range.
Posted by Arthur B. Hill at March 23, 2006 09:27 AM