It's crazy how this sector hasn't fully recovered from its fall in 2021. Some of the laggards in the top 10 are TSLA, NKE, SBUX. The other 6 companies have have recovered pretty well from their 2021 drops in price, and some have gone past to make new all times highs. I'm bias about this sector simply because it makes a large percentage of my personal portfolio....
The bullish pattern indicates a potential upward movement for XLY (Consumer Discretionary Select Sector SPDR Fund) towards the target zone of 220-230 by the year's end.
Tesla missed on earnings. Huge decline for this leading EV stock.
Tesla was already getting oversold on the daily chart, & now with this decline its a salavating opportunity for day traders.
I still think the true swing trade level is a bit lower from here. This weekly close will tell us more.
We have included an analysis of the XLY sector (Consumer...
Consumer Discretionary (XLY) is not participating in the recent market rally. There was a failed breakout in December and prices have underperformed the SP-500. A break below the 171.13 area may find a lack of support until the high-volume area (159-162 area)
This key ratio in determining bullishness (imo) is looking at a bearish divergence at a key resistance level. Bull run is over until this ratio resolves the rsi divergence and gets above that 2.38 level, imo.
The last time the 7 daily MA & 20 Daily MA crossed over the XLY SECTOR went on a massive +20% run.
Will this happen again?
The sector does have bullish momentum to the upside.
XLY
Sector - Consumer Discretionary
Top Stocks on Sector - AMZN, TSLA, HD, MCD, NKE (and more)
The sector started its decline already from the last peak, as we can see the market has started the correction that we have all been waiting for (already long past the start) and xly will see the first significant damage according to how it looks at the moment, the...
This parallel channel can only be observed on the log scale. Here I overlaid the historical pattern in orange from the recovery after the Great Financial Crisis. There is good alignment at the moment.
A pullback to the 100 Weekly mA will likely be bought up since this chart has had a technical breakout of a larger pattern.
I expect momentum buyers to try and push this higher after dips.
XLY is one of the best consumer discretionary ETF (holdings include – Amazon, Tesla, Nike, etc.) you can buy. The ETF is showing a significant accumulation and will move higher. The price target is $320 by 2025.
Sector: Consumer Discretionary Select Sector SPDR Fund
Ticker: XLY
Exchange: NYSE Arca
Industry: Exchange-Traded Fund
Introduction:
Welcome to our weekly technical analysis. Today, we're looking at the Consumer Discretionary Select Sector SPDR Fund (XLY), listed on the NYSE Arca exchange. The weekly chart is currently exhibiting an inverted Head and Shoulders...
AMEX:XLY
4H timeframe
Uptrend channel (retracing 28th December 2022 lows & 2d February highs)
valid as long as it can hold 143.85$, loss of 146.46 is a big warning.
In order to spot the potential next targets, I retraced 1st December 2022 highs to 28th December 2022 lows and generated Fibonacci extensions (same principle as for channels). this is the...
