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XLP finds itself in a very tricky spot right now at (1) and (2) in the above chart. If the “Power of the Pattern” is correct, this ETF is about to head lower!
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CLICK ON CHART TO ENLARGE
XLP finds itself in a very tricky spot right now at (1) and (2) in the above chart. If the “Power of the Pattern” is correct, this ETF is about to head lower!
William…. Staples could break the pattern to the upside, yet if the odds play out on staples and they turn south, staples moving down hasn’t been that sweet for the broad markets.
Chris, any opinion of how this relates to bonds if at all? I’ve assumed in the past that consumer staples were bonds in disguise and that a higher ten year yield posed problems for stocks in this sector particularly.