Don't Ignore This Chart!

Ichimoku Conversion Line Remains Bullish for XLY


The Consumer Discretionary SPDR (XLY) remains in bull mode as the Conversion Line (blue) holds above the Base Line (red). The Kijun-sen (Base Line) equals: (26-period high + 26-period low)/2)). The Tenkan-sen (Conversion Line) equals: (9-period high + 9-period low)/2)). These two act like moving averages, one slower and one faster. The trend is up as long as the Conversion Line (faster) holds above the Base Line (slower).

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at 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. Learn More
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