Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Stocks

Consumer Discretionary New IT BULLISH Bias

by August 16, 2024
August 16, 2024
Consumer Discretionary New IT BULLISH Bias

The Silver Cross Index measures the number of stocks that have a 20-day EMA above the 50-day EMA, or they are on a “Silver Cross” IT Trend Model BUY Signal. This gives us a more complete picture than simply measuring the number of stocks above their key moving averages.

Yesterday, on Consumer Discretionary (XLY) the Silver Cross Index moved above its signal line. This gives us a new IT BULLISH Bias on the sector. This is a sector to watch. With the release of a positive retail sales report, this sector is likely to see even more upside.

Price has broken above both the 20/50-day EMAs. Participation is shooting up and given the percentage of stocks above their 50-day EMA is higher than the Silver Cross Index, it should continue to rise higher. It is coming out of oversold territory. Stochastics are rising and relative strength is turning up. There is plenty of room for more upside.

Conclusion: The Consumer Discretionary (XLY) sector is showing signs of renewal and based on recent retail sales data, it should continue to see more upside. This sector is likely to continue to lead the market higher now that we have a BULLISH IT Bias in the SP500 and now a BULLISH Bias in the intermediate term for XLY.

Introducing the new Scan Alert System!

Delivered to your email box at the end of the market day. You’ll get the results of our proprietary scans that Erin uses to pick her “Diamonds in the Rough” for the DecisionPoint Diamonds Report. Get all of the results and see which ones you like best! Only $29/month! Use our free trial to try it out for two weeks using coupon code: DPTRIAL2 OR purchase now and get one month for free! Sale ends August 31st. Click HERE to subscribe!

Buy One Month, Get One Month Free

Buy one month of ANY DecisionPoint subscription and get one month for free! This sale ends August 31st so act now! Click HERE to subscribe!

Learn more about DecisionPoint.com:

Watch the latest episode of the DecisionPointTrading Room on DP’s YouTube channel here!

Try us out for two weeks with a trial subscription!

Use coupon code: DPTRIAL2 at checkout!

Click HERE to subscribe Now!

Technical Analysis is a windsock, not a crystal ball. –Carl Swenlin

(c) Copyright 2024 DecisionPoint.com

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.

Helpful DecisionPoint Links:

Trend Models

Price Momentum Oscillator (PMO)

On Balance Volume

Swenlin Trading Oscillators (STO-B and STO-V)

ITBM and ITVM

SCTR Ranking

Bear Market Rules

0
FacebookTwitterGoogle +Pinterest
previous post
The Inflation Reduction Act after Two Years: Spending Estimates Reach New Heights, but Green New Deal Supporters Want More
next post
‘Historic breakthrough’: US ditches defense trade restrictions with top allies to counter China

You may also like

Analyzing SIL, USO, and NVDA: Could These Bullish...

May 29, 2025

NVDA & Mag 7 Breaking Down; Russell 2000...

July 11, 2024

Semiconductors are at CRITICAL Level!

April 17, 2024

You Need To Realize ONE Important Fact With...

March 9, 2024

Best Bullish and Bearish OptionsPlay Ideas for the...

December 2, 2024

Week Ahead: NIFTY Approaches This Key Support On...

September 25, 2022

Top Three Things I Wish I Knew Before...

August 15, 2023

Week Ahead: NIFTY Stays In A Defined Range;...

February 18, 2024

Nike Stock: Three Rising Valleys and Running

April 17, 2023

The Fed and the QQQ/AI Rally are Due...

June 11, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • TSA tells Americans their Costco cards won’t fly at airport security despite love for hot dogs

      June 7, 2025
    • Trump announces China will restart rare earth mineral shipments to US after productive call

      June 7, 2025
    • Musk feud presents ‘unprecedented’ dynamic compared to past Trump disputes: expert

      June 7, 2025
    • Snub of Musk’s NASA nominee ally preceded sudden ‘big, beautiful bill’ criticism, Trump feud

      June 6, 2025
    • Supreme Court rules DOGE can access Social Security information

      June 6, 2025
    • US sanctions money laundering network aiding Iran as regime faces nuclear reprimand at IAEA

      June 6, 2025

    Categories

    • Business (8,149)
    • Investing (2,019)
    • Politics (15,558)
    • Stocks (3,134)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved