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The Consumer Staples Sector - XLP : Relative Break Out ?
September 28 ​( From TradingView  )
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​​​​The Situation


​The Consumer Staples Sector ETF ( XLP ) is within a steep uptrend channel ​that ​
​started on August 25 ​as ​shown ​​by the ​​fisrt chart below.


We broke on the downside on August 20 the 50 DMA (Day Moving Average - Red
​line - 1rst chart below) then at 49.36 and the 200 DMA ( Green Line - 1rst chart below ​)
​on August 21 then ​at 49.00 ( Closing price at 47.09 on August 26 ​) ​: a bad technical 
​sign for the ​Consumer Staples ​Sector.​

We are retesting the 47.50 zone level for the Consumer ​Staples
​Sector ETF ( XLP )L it is the Support Trendline from a Wedge
​Pattern that started back on December 16 2014. See 2nd chart below.

The Consumer Staples Sector ETF ( XLP ) started to outperform compare ​to ​​the ​Mighty SP500 since June 5 ​​and ​the ​21 DMA (Day Moving Average) ​turned ​south ​on June 30. - See 2nd chart below.

​​​But the most interesting part is that we reached the Resistance Trendline on a Relative Basis ( ratio of XLP over SP500 Index ) of the previous peak that was done on January 15 2015. We are near a Break Out in Relative Performance compare to the Mighty SP500 Index. 
( Red Trendline - 1st chart below )



​​​



​​​

The Consumer Staples Sector - XLP : Relative Break Out ?  $SPY, $XLP #Trading #xlp #SP500
RATIO
Consumer Staples Sector ​ ETF XLP
over SP500 Index
( Blue Line )
21 DMA ( Amber Line )​

SP500 Index​ ( Candle )
Consumer Staples Sector  ETF XLP
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )​

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