$XLY · StockCharts TV · 2026-11-04

Then I want to look at the XLY consumer goods fund as well because yesterday, Monday, it was the best performer. It is truly rare to see this, where technology is one of the worst performing investment funds, while XLY, another growth counterpart, is among the best.

So we often hear about rotation between sectors, but there may also be some rotation within the growth stocks themselves. If this continues, and we see good performance from the consumer discretionary sector , then that could clearly be one of the reasons why the S&P index might continue to hold near its record levels, but it will take effort because the XLY fund has done this before.

Isn't that so? The entire year of 2026 was one huge triangle, with sell-offs near the resistance level each time, and buy-offs near the support level represented by this uptrend line and that downtrend line.

Therefore, the recent recovery came after breaking the last upward trend line, consolidating near the July support level , and then launching strongly to return to the same line.

So the question is, what will be different now? Will they go straight back to the same line where they failed before, approaching the overbought zone once again, right? Nothing different has happened so far.

It becomes even more important when we know how this looks on the weekly chart. This graph is on a logarithmic scale. Again, the same line is being tested while recording higher bottom levels and is still in an upward trend.

Over the past few years, we can see how important a breakthrough finally is, because if it manages to do that, it will challenge the high levels from early this year and, eventually , not too far off, the peak levels from early this year as well.