XLY Ready for the next leg down?

5 เม.ย. 2022

XLY has rallied to and thru previous support on decreasing volume. It is currently oversold and retesting the previous swing high.

The main holdings in XLY are:
- Amazon
-Tesla
(these two make up over 35%)

-Home Depot
-Nike
-McDonald's
-Lowes
-Starbucks
-Target
-Booking
-TJX

Consumer disposable income is hovering around the Jan 2020 lows (fred.stlouisfed.org/series/DSPIC9 )
Inflation expectations continue to rise (clevelandfed.org/our-research/indicators-and-data/inflation-expectations.aspx)

As always, this is just food for thought!