Approx 32% of XLY is tow stocks AMZN (24%+) and HomeDepot (7%+).
Given AMZN has been a skyrocket (about to run out of rocket fuel) and US housing looking like it might be about to hit the rails (bad for HD) and what looks like to be a completed Ewave count I am shorting XLY 111.50 with stop 113.50 and a target of at least 10% lower (5/1 return/risk) in coming weeks.
Given AMZN has been a skyrocket (about to run out of rocket fuel) and US housing looking like it might be about to hit the rails (bad for HD) and what looks like to be a completed Ewave count I am shorting XLY 111.50 with stop 113.50 and a target of at least 10% lower (5/1 return/risk) in coming weeks.