Consumer Discretionary continues to move bearish
There may be small windows of opportunity to continue shorting the sector but the overall direction is bearish as shown by the TA and macro economic analysis. With Fed rate hikes continuing to increase leading to a recession next year, this sector will cycle out for others such as consumer staples and utilities.
XLY
XLY
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.