Consumer Staples – The XLPs closed back above the important $53.50 level. The action was unusual. It shows that money is flowing into this sector because it is a defensive play. People will always need staples regardless of how the markets are doing so this shows bearish sentiment for the overall markets. $53.50 is an important level because it was support in February and March, and resistance in April. It was also the bottom of the range since August before it was broken.