Consumer Discretionary Select Spiders (XLY) Stays Hot

The Consumer Discretionary Select Spiders (XLY) extended its winning streak to 4-straight sessions after tapping an intraday and fresh all-time high of $129.52. New and lower resistance at $129.50-$130 was cleared but held. A close above the latter would be an ongoing bullish signal for additional strength towards $131.50-$132, depending on momentum.

Current support is at $128.50-$128. A close below the $127.50 level would signal a possible near-term top with backtest potential towards $126-$125.50.

RSI remains in an uptrend after closing above lower resistance at 65-70 with the December peak at 75. Key support is at 60 with a move below this level signaling additional weakness towards 55-50.