The Consumer Discretionary SPDR (XLY) is showing strength with a channel breakout in November and a pennant consolidation in December. XLY surged over 1.4% on Monday to form the second low for the pennant. A breakout would signal a continuation higher.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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