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. Based on a phenomenological model, we propose that charge nematic ordering is indeed behind the formation of temperature dependent incommensurate inelastic peaks near wave vector (π, π) in the dynamic structure factor of YBa2Cu3O6+y. We strengthen this claim by providing a compelling fit to the experimental data. © 2010 The American Physical Society.