Consumer Discretionary Underperformed in May

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Consumer Discretionary Underperformed in May

Published on Sunday, 30 May 2010 00:18 Written by Danny Miller

xly New York, May 29^th (TradersHuddle.com) – The consumer discretionary sector spider (NYSE:XLY) fell 1.52% on Friday, capping a monthly loss of close to 9%.

The consumer discretionary ETF, underperformed the broad market index in May, as the XLY lost 8.9% versus the S&P 500, which lost 8.2%.

The price action in consumer discretionary signals a wedge as the ETF stalled and fell close to its declining 20day moving average, currently at $33. Technically investors should be looking at the possibility of lower highs.

The XLY 52-week low is $21.70 and its 52-week high is $36.13.

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