Home > heikin-ashi > Will $XLY Break Out? #markets #trading #trendfollowing

Will $XLY Break Out? #markets #trading #trendfollowing

July 20, 2014

 

Consumer Discretionary Sector ETF ($XLY) – monthly

  • The blue and red arrows point to subsequent strong trends. Can’t be ignored.
  • The trailing-stop (blue dotted line) is a reliable exit from long positions.
  • Heikin-Ashi candles show the trend without much translation.

 

Monthly $XLY heikin-ashi and Ichimoku charts

Consumer Discretionary Sector ETF ($XLY) – weekly

  • Here, the medium-term picture is different (weaker) from the long-term view.
  • The uptrend looks weaker because Chikou-span is flirting with the price.

 

Weekly $XLY heikin-ashi and Ichimoku charts

Consumer Discretionary Sector ETF ($XLY) – daily

  • Undecided, with a weakness sign (a lower high for the smoothed haDelta).

 

Daily $XLY heikin-ashi and Ichimoku charts

Bottom line: The long-term picture looks bullish, but a confirmation of an exit from the current short-term consolidation is needed first.

 

 

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