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SPDR Select Sector Fund - Consumer StaplesSPDR Select Sector Fund - Consumer StaplesSPDR Select Sector Fund - Consumer Staples

SPDR Select Sector Fund - Consumer Staples

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XLP trade ideas

ridethepig | Consumer Staples🛒 Consumer staples is dealing with a remarkable situation on the macro front which we have discussed at earlier opportunities (see ALPHA PROTOCOL: SEEKING IMMEDIATE EXTRACTION). One should be wary of the immediate risk for a waterfall as consumer staples hang onto the highs by a fingernail. After completing the 5 wave sequence to the topside, clearly the end of the road is approaching for this economic cycle and we must decline into 2021/2022 in order to untangle the flows for 2022 -> 2030. Time to start paying close attention for early signs of a turn. Risk is threatening to breakdown in an impulsive fashion, our opponents are attempting to prevent the breakdown, but with stimulus delayed till after the elections the protective move is out of the question this week. Strong support from a technical perspective is found at 53/52 and 48/47.
AMEX:XLPShort
by ridethepig