Even as the general equity market surges to some of the highest prices in human history (thanks to Powell’s QE4 injection of nearly a trillion dollars annually), the Consumer Staples ETF (symbol XLP) isn’t playing along. I wanted to point out the break in its wedge pattern, which just took place.
I was curious what component parts this thing had, then I remembered – – good old SlopeCharts can tell us! So I clicked this.
And voila……..
