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One of the noteworthy developments in recent days has been the move in consumer staples stocks. The Consumer Staples Select Sector SPDR ETF (XLP) attracted some buying support in recent days as fears of a global trade war pushed traders towards defensive names. China recently announced that it would be implementing new tariffs on 128 U.S. products, including fruit and meat, in response to the U.S.’ own set of levies on steel and aluminum.  Now the question is whether the rally has more legs?  Below is an update look at a trade in XLP.

The graphic below is from our “U.S. Market Trading Map”, show the near-term technical bias and trading ranges.  As shown, the underlying is in a short-term bullish trend when the price bars are painted in green.  The underlying is in a short-term bearish trend when the price bars are painted in red. 

Chart 1.1 – Consumer Staples Select Sector SPDR ETF (weekly)

Our “U.S. Market Trading Map” painted XLP bars in green (buy) – see area ‘A’ in the chart.  The first dominant feature on the chart is the rising trend started in early 2009.  The second dominant feature of the chart is the downward trend started in early February 2018.  The March massive selloff pushed the ETF…Click here to read more.

You see, our trend-following system is very unique as it attempts to pick turns before others see them. Timing is everything and if you’ve applied our system correctly, you should have made a killing in any markets.

 

This is just an example of many successful trades that our member had enjoyed recently. After all, aren’t you glad you subscribed?

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