How StockCharts TV’s view on $XLY changed

As for XLY, the non-core consumer goods sector, another large-cap growth sector that performed well on Monday, we note that there is no clear pattern here in terms of the classic formations we are looking for. This is clearly a very large triangle pattern.

The best thing about it, of course, is that the XL Y indicator has proven its ability to respect this line, and that periods of strong weakness have previously been exploited to achieve significant gains.

We saw it again this spring, and more recently in July, and it may happen again in September .

And then the last one is consumer discretionary and that is an interesting one because it has hooked around. It was at a like a blue rating, like mildly positive. And I'm going to change it to a mildly negative, not an underperformer.

While it's very tempting to do that, and I'll show you on the price chart while I why I am still keeping a little bit of room for improvement for the consumer discretionary sector in a minute.