Tuesday’s ETF Chart To Watch: XLY Ready To Rebound Ahead Of Consumer Confidence

By: ETFdb
Investors returned to the street in a buying mood this week ahead of the highly anticipated FOMC meeting coming up in September. Bullish pressures kicked off trading on Monday morning as investors weighted the possibility of the Fed delaying tapering after durable goods data missed the mark; July’s new orders figure contracted by 7.3%, marking a worse-than-expected deterioration from last month’s reading of 3.9% [see also Monetary Policy Around The Globe: Currency ETF Edition]. Our chart to watch for today is the State Street Consumer Discretionary Select Sector SPDR which could experience volatile trading as investors reat to the latest consumer confidence data. Analysts are expecting for the confidence figure to come in at 78, which would mark a slight deterioration from last month’s reading of 80.3. Chart Analysis Consider XLY’s one-year daily performance chart below. This ETF has enjoyed stellar gains YTD, managing to climb higher along a steadily rising support [...] Click here to read the original article on ETFdb.com. Related Posts: Earnings Preview: Gold Miners, Apple, And Aerospace Report Friday’s ETF Chart To Watch: XLY Rally In Focus After Consumer Sentiment Data Consumer ETFs Rise On Upbeat Confidence Data Consumer ETFs: 3 Things To Consider Daily ETF Roundup: Dow Falls Below 15,000, XLY Slumps, TUR Jumps
Investors returned to the street in a buying mood this week ahead of the highly anticipated FOMC meeting coming up in September. Bullish pressures kicked off trading on Monday morning as investors weighted the possibility of the Fed delaying tapering after durable goods data missed the mark; July’s new orders figure contracted by 7.3%, marking a worse-than-expected deterioration from last month’s reading of 3.9% [see also Monetary Policy Around The Globe: Currency ETF Edition].  Our chart to watch for today is the State Street Consumer Discretionary Select Sector SPDR which could experience volatile trading as investors reat to the latest consumer confidence data. Analysts are expecting for the confidence figure to come in at 78, which would mark a slight deterioration from last month’s reading of 80.3.  Chart Analysis Consider XLY’s one-year daily performance chart below. This ETF has enjoyed stellar gains YTD, managing to climb higher along a steadily rising support [...]

Click here to read the original article on ETFdb.com.

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