XLY closes 0.52% higher at 137.0
Consumer Discret Sel Sect SPDR ETF (XLY) Technical Analysis Report for Jul 31, 2020 | by Techniquant Editorial Team
XLY ended the month 7.27% higher at 137.00 after gaining $0.71 (0.52%) today.
Daily Candlestick Chart (XLY as at Jul 31, 2020):
Friday's trading range has been $2.72 (1.97%), that's slightly above the last trading month's daily average range of $2.27. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for XLY.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Selling could speed up should prices move below the nearby swing low at 134.63 where further sell stops might get activated.
Among the three market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "RSI(2) above 80" stand out. While it is usually interpreted as bearish, it has actually shown to be bullish for XLY. Out of 300 times, XLY closed higher 56.67% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 60.33% with an average market move of 0.52%.