After a sharp decline last week, stocks recovered with bounce the last three days. The Sector PerfChart shows the Consumer Discretionary SPDR (XLY), Finance SPDR (XLF) and Basic Materials SPDR (XLB) leading this bounce. Also note that the Consumer Staples SPDR (XLP) and Healthcare SPDR (XLV) are also outperforming because they are up more than the S&P 500 ETF (SPY). The other four sectors are lagging.
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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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