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

Big View Slaps Bulls with Warnings

November 28, 2023

Empowering Your Trading Journey: Handpicked Trading Books Every...

May 3, 2023

Double Top on Industrials (XLI)

December 6, 2024

DP Trading Room: Magnificent Seven Stocks in Bear...

April 1, 2025

At the Edge of Chaos: Summer Rally Sizzles...

August 14, 2022

Top Two Sectors to Watch in April 2024

April 3, 2024

Week Ahead: NIFTY Likely To See A Buoyant...

October 30, 2022

S&P 500 Crosses above 200-day SMA: Not So...

December 3, 2022

Investing with the Trend: Conclusions

June 20, 2024

About That Liquidity Crisis – How Healthcare Could...

March 12, 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

    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • Stocks (3,136)
    • 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