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Consumer Staples Show Relative Out Performance

|Includes: SPY, XLP, Consumer Discretionary Select Sector SPDR ETF (XLY)

Certainly it would not be a surprise that during market corrections, money tends to migrate to stock names that are considered less risky, that generate more consistent profits and generally have more stable stock prices.  Two days into this most recent correction that is exactly what is happening.

The Select Sector SPDR Consumer Staples ETF (NYSEARCA:XLP) is solidly out performing the broad market as represented by the S&P 500.  Its relative price to relative to that of the S&P 500 price has broken a downward trend line and is moving up on a relative basis.  Price is holding a longer term upward trend line and if it holds here will likely continue its upward move. Its RSI and MACD indicators are poised to break above their signal lines.

The only question is whether money will stay in the consumer staples names when the corrective action ceases or will it again seek risk in names like the consumer discretionaries or technology.