Major equity indexes endured a tough trading session as bullish pressures prevailed on Wall Street through the closing bell. Stocks popped at the open after much better-than-expected weekly jobless claims data gave investors plenty to cheer about; nonetheless, looming election jitters at home coupled with big-bank earnings on tap were enough to welcome profit-taking pressures [see 101 ETF Lessons Every Financial Advisor Should Learn]. Investors will keep an eye on the homefront today as the latest consumer confidence report is expected to hit the street after the opening bell. As such, our ETF to watch for the day is State Street Consumer Discretionary Select Sector SPDR (XLY, A), which may see an increase in trading activity following the University of Michigan Confidence report; analysts are expecting for this figure to come in at 78, marking a minimal decline from the previous reading of 78.3 [see also Platinum/Gold Ratio Suggests Economic Slowdown]. Chart Analysis XLY appears to have recently formed a [...] Click here to read the original article on ETFdb.com. Related Posts: Charts Are Aligning For XLU Tuesday’s ETF Chart To Watch: Consumer Discretionary Select Sector SPDR (XLY) ETF Insider: Low Volume Trading Can Be Deceiving ETF Insider: No News Could Be Good News Tuesday’s ETF Chart To Watch: Consumer Discretionary Select Sector SPDR (XLY)
Major equity indexes endured a tough trading session as bullish pressures prevailed on Wall Street through the closing bell. Stocks popped at the open after much better-than-expected weekly jobless claims data gave investors plenty to cheer about; nonetheless, looming election jitters at home coupled with big-bank earnings on tap were enough to welcome profit-taking pressures [see 101 ETF Lessons Every Financial Advisor Should Learn]. Investors will keep an eye on the homefront today as the latest consumer confidence report is expected to hit the street after the opening bell. As such, our ETF to watch for the day is State Street Consumer Discretionary Select Sector SPDR (XLY, A), which may see an increase in trading activity following the University of Michigan Confidence report; analysts are expecting for this figure to come in at 78, marking a minimal decline from the previous reading of 78.3 [see also Platinum/Gold Ratio Suggests Economic Slowdown]. Chart Analysis XLY appears to have recently formed a [...]
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