Karpel’s Corner: Watch support on these four ETFs–$XLF, $XLI, $XLK, and $XLY

Welcome to Karpel’s Corner. This is where I throw out my thoughts on the markets and share some of my favorite strategies. I keep it market-focused, and never miss an opportunity to teach trading strategies and commentate on the latest trends affecting the financial markets. Hope you enjoy today’s post!

Well, this consolidation in the market has everyone eyeing support, not only on the major broad-based indices but also on the offensive sectors like Consumer Discretionary & Financials.

Market traders and investors need to watch supports in these four offensive sectors: $XLF, $23.20; $XLI, $53.75; $XLK, $40; and $XLY, $68.50. Breaks at these levels would be negative for the market.

We’ll discuss these sectors and two picks on Tradespoon Live TV, so check it out at 11 am CST: http://www.tradespoon.com/video/

See you next time at the Corner!