Consumer Discretionary Sector Joins the Defense

Arthur Hill
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com

Friday was a rather strange day for the sector SPDRs. Notice that the consumer discretionary, consumer staples, healthcare and utilities SPDRs moved higher. It is unusual to see the consumer discretionary sector rise along with the three defensive sectors, especially when the S&P 500 is down for the day. $SPX closed lower because the other five sectors moved lower. Even though $SPX closed off its morning low, it was still a weak day for the sectors overall.

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Arthur Hill
About The Author:

Arthur is the Chief Technical Strategist at TrendInvestorPro. Focused primarily on US equities and ETFs, his systematic approach of identifying trend, finding signals within and setting key price levels has made him an industry-leading technician. Learn More 

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