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[Woody]

The possibility of a "V" shaped recovery looks like its built into the 66% and 56% rallies in XRT and XLY since the March lows......granted they have come down a long way but is the economy really that good? I dont know thats why I use TA

Using DP's MCO/MCSUM chart for XLY, looks like the MCO took out the divergent low of March and McSum has made a negative divergence with price and is threatening to drop below the zero line.

XLY shows the possibilty of a double top and also shows Neg Div with OBV, RSI, CCI, and MACD......watching the hourly uptrend lines very carefully here

Also, short term rates starting to go up....another potential headwind for the consumer (in addition to higher Gasoline prices and Mortgage rates) or a sign of economic strength??





http://stockcharts.c...4121&r=9949.png

http://stockcharts.c...4088&r=7739.png

Edited by Woody, 08 June 2009 - 09:10 AM.