XLY 78.31-neutral- Pulls back within 5-month rising channel

SPDR Select Sector Fund - Consumer Discretionary (AMEX:XLY)

AMEX:XLY SPDR Select Sector Fund - Consumer Discretionary

XLY

xly

XLY pulls back from the 80.40 record high (July 24, 2015) to test the 21 day moving average currently at 78.26. Near term there is scope for further easing towards the 89 day moving average currently at 76.62 near 5-month rising channel support which may hold the correction. Back above 78.90 would stabilize.
Outlook:
Short term: neutral
Long term: bullish