XLY (Consumer discretionary) is about to break below the support line of the defined trading range. I don't believe XLY will bounce off the $22 level as it did last time at the end of May and rally to $24.5. This time the support will be broken and the trend will resume to the downside. Looking at this chart with a confirmed double top and a support about to break down is not what I call a bullish chart ! Avoid buying this group for the long term ! Did anyone tell you recently to "sell sell sell" XLY around $24 ? (Click here!)
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