Tuesday, April 03, 2018

Will Earnings Season Push Consumer Staples (XLP) Out Of This Descending Wedge?

It's entirely possible after the rout we've had. I don't normally comment on stocks below the MA(144) as I feel they are firmly in bearish territory but this confirmation was just too good to pass up. It has aligned rather well with three very good hits on the upper band. I should warn this is a very speculative bet economic indicators and earnings results can change this temporarily enough for this to break out.