The S&P 500 Consumer Staples sector has really taken a turn for the worse in recent days. Yesterday the sector broke below the uptrend channel that it had been trading in for more than six months, and today it broke significantly below its 50-day moving average. At the least, the technicals point towards sideways trading action for the sector in the near term.
Below we highlight the performance of the stocks that make up the S&P 500 Consumer Staples sector since its recent high on December 14th. As shown, Avon Products (AVP), Campbell Soup (CPB), SUPERVALU (SVU), Sysco (SYY), and Estee Lauder (EL) are all down more than 5%.
Any idea when was the last time this group turned down just before Xmas??
Posted by: Jack | December 19, 2009 at 06:37 AM