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SP500 Consumer Discretionary (XLY): Near Relative Break Out?
March  29 2016 ( From Stockcharts, TradingView  )
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The Situation

​


​​​The Consumer Discretionary
Sector  includes
industries such as automobiles

​and ​components, consumer
durables, apparel, hotels,
restaurants, leisure, 
​media,
and retailing.

It remains as the name says it, discretionary spending for the consumer.
When we observe that sector start to underperform at the beginning of the year, 
​we can ask ourselves is the whole market can keep up without taking into account 
​the US Consumer which makes 70% of the whole economy.​​​

​​The Consumer Discretionary Sector ETF (XLY) is within a 
​Rising Channel that
​started on March 4 2016 and already testing
the Fibonacci resistance ​zone of 0.764 (78.53 on XLY)
​(See first chart below - Upward Channel - Ellipse).

​​​The Consumer Discretionary Sector ETF (XLY) started to ​outperform compare to the
​Mighty SP500 Index (SPY ETF) since February 10 2016 and near its resistance trendline also.
​(See second chart below - Red Trednline - Ellipse)...
​​
But the real interesting part is that the  Consumer Discretionary Sector ETF (XLY) is near testing the resistance trendline on a relative basis when Bullish convictions are relatively strong, one of the highest reading of the past 3 years. It will be a tough Battle for Bulls as already the Bullish Sentiment Index is over the 70% threshold on the XLY ETF. ​(See third chart below - Thick Black Trendline)...

​​





SP500 Consumer Discretionary (XLY): Near Relative Break Out? $SPY, $XLY
#xly #investing #sp500 #spy











SP500 Consumer Discretionary ETF XLY 
​Daily Candles​
20 DMA ( Yellow Line )​

50 DMA ( Red Line )​​



Financialiceberg.Com


Financialiceberg.Com


Daily RATIO

Consumer Discretionary ​ Sector ETF XLY
over SP500 Index - SPY ETF ( Candles )

20 DMA ( Yellow Line )​



Daily Chart
​SP500 Consumer Discretionary Bullish % Index ( Dots )

7 DMA ( Blue Line )



Financialiceberg.Com


Chart Source: Stockcharts.com