New coverage:[XLY]

XLY is the ETF ticker for the S+P consumer discretionary select few.  In other words, it indirectly tracks discretionary spending.  A growing money supply leads to a growing economy which leads to higher discretionary spending. 

I don't know if the current peak is the peak and in fact I am conservatively modeling it as NOT being the final peak.  But my model strongly suggests that is is shows that it is at some kind of significant peak, probably blue 3.

Wave blue 4 can hit the level of the prior 4th which is about $60 or it can head down to one of the typical fib retracements.  So again, my model is very conservative for shorting this ETF.  In truth, I will not be surprised to see it pull back to the 38.2 fib.

One thing I do know is that this is a debt fueled BUBBLE, BUBBLE, BUBBLE.