Market Overview

Select SPDR ETF Sector Review

Technical Analysis sector review for the New Year 2013.

Consumer Discretionary (XLY)

Support at $45.50, Resistance at $48.  Staging a breakout here.

Consumer Staples (XLP)

Support at $34, Resistance at $36.

Energy (XLE)

Nice uptrend forming a large ascending triangle.  Overhead resistance at $76 and $79. Support at $67.50.

Financials (XLF)

Nice breakout of $16 area two weeks ago. Should see more upside in near future.

Health Care (XLV)

Support at $39, Resistance at $41.

Industrials (XLI)

Ascending triangle breakout at $37.50. Industrials should see more upside in the near future.

Materials (XLB)

Ascending triangle breakout at $37.50, next resistance at $39.50.

Technology (XLK)

Head & Shoulders formation with nextline support at $27.  Pattern breakdown over $30 resistance.

Utilities (XLU)

Descending triangle breakdown.  Support turned resistance at $35.50. Lower support at $33.50.

Head over to The Smarter Investor for more technical analysis. 

Posted-In: Sector ETFs Technicals Trading Ideas ETFs

 

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