Even though it may be lagging the S&P 500 ETF (SPY) on a percentage basis, the Consumer Staples SPDR (XLP) is leading the market on a "chart" basis with a 52-week high. In fact, there have been a string of 52-week highs since the latter part of February. Also note that the surge over the last two days was especially strong.
Click this image for a live chart.
About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
Learn More
