  We study the interplay between charge and spin ordering in electronic liquid
crystalline states with a particular emphasis on fluctuating spin stripe
phenomena observed in recent neutron scattering experiments\cite{Hinkov2008,
Haug2009}. Based on a phenomenological model, we propose that charge nematic
ordering is indeed behind the formation of temperature dependent incommensurate
inelastic peaks near wavevector $(\pi,\pi)$ in the dynamic structure factor of
YBa$_2$Cu$_3$O$_{6+y}$. We strengthen this claim by providing a compelling fit
to the experimental data which cannot be reproduced by a number of other
ordering possibilities.
