docibby
Short

XLP - weekly at trendline, watch weakness.

AMEX:XLP   SELECT SECTOR SPDR TRUST AMEX CONSUMER STAPLES INDEX
XLP
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xlp
Surprisingly, during the rise in 2016 in the general market, defensive sectors like Utilities and Consumer staples were bid up, in search of yield and dividends. If the Treasury Yield goes UP, or any rate hike actually happens, some funds and big investors will move out of stocks ( even defensive ones such as XLP or XLU ).

Watch major support ( weekly ) around 52.00 USD.
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