The S&P Select Consumer Staples ETF (XLP) has been consolidating along its 20-day EMA since pulling back on January 13th. Over the past four sessions this ETF has formed four reversal candles, as it has consistently held support at the 20-day EMA. A move above the January 19th high of $32.46 could present a buying opportunity in XLP. We are placing XLP on the watchlist. Trade details are available in the watchlist segment of the newsletter.