Price Charts for SPDR Sector ETFs Strength Report 2024-10-11
Here is my post with the strength readings for the 11 SPDR Sector ETFs.
This post shows ETF price charts and strength readings.
A key takeaway here is this methodology provides a way to objectively understand the actual underlying strength of the ETFs, based on the strength of the individual component stocks and without falling prey to potentially biased chart interpretations.
- This in turn leads to consistent, unemotional conclusions that are the basis of repeatable actions related to the resulting strength/flat (neutral)/weakness of the ETFs.
- The specifics of the ground rules are not important - so long as they make sense. It's not about, for example, using a 50 day vs. 45 day exponential moving average to determine trend. It's that one always uses one or the other so that all subsequent decisions that depend upon the chosen setting are consistently based on that setting.
XLB - Basic Materials, rating 4Strong
Weakened but not enough to change strength rating, and is Weaker than the 3.7 Composite Score.
XLC/Communications, strength rating 4Strong
Unchanged, and is Weaker than the 3.7 Composite Score.
XLE/Energy, strength rating 5Average
Weakened but not enough to change strength rating, and is Weaker than the 3.7 Composite Score.
XLF/Financial, strength rating 2VeryStrong (strengthened one rating level)
Strengthened, and is Stronger than the 3.7 Composite Score.
XLI/Industrials, strength rating 3Stronger
Strengthened but not enough to change strength rating, and is Stronger than the 3.7 Composite Score.
XLK/Technology, strength rating 4Strong
Unchanged, and is Weaker than the 3.7 Composite Score.
XLP/Consumer Staples, strength rating 5Average
Weakened but not enough to change strength rating, and is Weaker than the 3.7 Composite Score.
XLRE/Real Estate, strength rating 4Strong (weakened one rating level)
Weakened, and is Weaker than the 3.7 Composite Score.
XLU/Utilities, strength rating 3Stronger (weakened one rating level)
Weakened, and is Stronger than the 3.7 Composite Score.
XLV/Healthcare, strength rating 5Average (weakened one rating level)
Weakened, and is Weaker than the 3.7 Composite Score.
XLY/Consumer Discretionary, strength rating 4Strong (weakened one rating level)
Weakened, and is Weaker than the 3.7 Composite Score.
