Market Overview

Shares of Consumer Discretionary Select Sector SPDR Fund are Moving Higher on 2.5x Above-Average Volume (XLY)

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(via COMTEX News Network)--

Shares of Consumer Discretionary Select Sector SPDR Fund (AMEX: XLY) are trading up 0.3% to $37.78 today on above average volume. Approximately 12.2 million shares have traded hands today vs. average 30-day volume of 4.8 million shares.

Spikes in volume can validate a breakout or signify a potential turning point. As such, SmarTrend will continue to monitor shares of XLY to see if this bullish momentum will continue.

SmarTrend currently has shares of Consumer Discretionary Select Sector SPDR Fund in an Uptrend and issued the Uptrend alert on July 26, 2010 at $31.74. The stock has risen 18.7% since the Uptrend alert was issued.

In the last five trading sessions, the 50-day MA has climbed 0.4% while the 200-day MA has risen 0.21%.

In the past 52 weeks, shares of Consumer Discretionary Select Sector SPDR Fund have traded between a low of $28.21 and a high of $38.06 and are now at $37.83, which is 34% above that low price.

Write to Chip Brian at cbrian@tradethetrend.com

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