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XLP - Staples are lagging the market

SPDR Select Sector Fund - Consumer Staples (BATS:XLP)  
Trading-Capital  
BATS:XLP   SPDR Select Sector Fund - Consumer Staples
Trend Analysis Chart Patterns XLP COST WMT SPDR S&P 500 ETF (SPY) walmart TGT
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trendanalysis chartpattern xlp cost wmt spy walmart tgt
XLP has had horrific downside price action over the last several weeks.

As it approaches the Weekly 200 MA I do anticipate a bounce to occur.

Not many sectors are near the weekly 200 MA.

Buying this at the Weekly 200 MA has proven to be a great long term entry for investors.

If a bounce occurs and bearish consolidation on the weekly chart occurs, this sector will likely be a good short side play.

I would never short this sector now since its had a big decline. A bounce is more favourable at this point.
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