Consumer Staple Remover

Managing Partner at Tim Knight Organization • Feb 1, 2018 at 11:34 AM EST

The consumer staples ETF, symbol XLP, is comprised of firms like Coca-Cola, Pepsi, and Procter & Gamble. This ETF broke its extremely long-term channel a while ago and is perfected beautifully for a hard fall.

The consumer staples ETF, symbol XLP, is comprised of firms like Coca-Cola, Pepsi, and Procter & Gamble. (As someone who never drinks the sugar water called soft drinks, I marvel at how the country absolutely lives off this crap… but I digress). This ETF broke its extremely long-term channel a while ago and is perfected beautifully for a hard fall.

xlpbig

Looking closer, there is a medium-sized channel that also suggests a reversal (and I wouldn’t have even noticed it were it not for the new Instant Trendlines feature in SlopeCharts).

xlp

Disclaimer:

This is not meant to be a recommendation to buy or to sell securities nor an offer to buy or sell securities. Before selling or buying any stock or other investment you should consult with a qualified broker or other financial professional. The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The author wrote this article themselves, and it expresses their own opinions. The author has no business relationship with any company whose stock is mentioned in this article nor is receiving compensation from any of the companies mentioned.

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