Consumer Staples Up 2%

07/07/2009 9:32 am EST

Focus: ETFS

Thomas Aspray

, Professional Trader & Analyst

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The consumer staples were up nicely on Monday as XLP tested the converging 50- and 200-day MAs before closing on the day's highs. The RS line is back above its WMA, but is still below short-term trend line resistance. If more selling hits the overall market, I would expect this sector to hold up better.

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