Consumer Discretionary vs Staples...
So this spread revolves around the simple, brutal strength that we are seeing in the economy right now. People are spending huge amounts of money on eating out right now, and given the ISM and UMCSI numbers I don't see that slowing down any time soon. Here, we pit a strong, cyclical restaurant chain specializing in chicken against a weak, defensive, consumer...
Well , we broke the highs in this pair. This shows that investors still think that the dip was as its called , a dip. I will be watching the first zone demarcated by the rectangle. That's the floor and should hold, if not , We are in for a rough ride.
Consumer Staples are breaking out of their highs, whilst the overall index driven by tech stocks is rallying on extreme momentum. Whilst the spread could widen further, the return to risk seems in favour of rotating into Consumer Staples, 30% behind in just 2 years. In 2007 to 2009 financial crisis, Consumer Staples fell only 30% against the broad market that...
General Mills could be bottoming. $XLP #consumer #staples
Consumer Staples SPDR ETF is looking good on both short term and long term basis. On long term basis - XLP trades in both 5 and 10 year uptrend, as the price stands firmly above 1st upper standard deviations from both 5 and 10 year means It has tested its 5-year trend during the august selloff and held it successfully. On short term basis - XLP shows no trends...