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.
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