Nowhere to Hide Among 11 S&P 500 Sectors

Richard1944

Headlines for the 11 Sector ETFs

  • Materials set a new 2018 low on Friday questioning the impact of Infrastructure spending.
  • Consumer Staples set a new 2018 low on Friday questioning the strength of the consumer. This ETF ended the week just below its 'reversion to the mean'.
  • 8 of 11 sectors are in correction territory.

Establishing weightings based up their weekly charts is the backbone of an Asset Allocation Model.

  • An Underweight Sector Has A Negative Weekly Chart. A negative weekly chart shows the ETF below its five-week modified moving average with declining or oversold weekly momentum (12x3x3 weekly slow stochastic).
  • An Equal-Weight Sector Has A Neutral Weekly Chart. A neutral weekly chart shows the ETF below its five-week modified moving average with rising weekly momentum, or above its five-week modified moving average with declining weekly momentum.
  • An Overweight Sector Has A Positive Weekly Chart. A positive weekly chart shows the ETF above its five-week modified moving average with rising or overbought weekly momentum.

SPDR Dow Jones REIT ETF (RWR) – Underweight

Reduce holdings on strength to my monthly risky level of $88.22.

Materials Sector SPDR Fund (XLB) – Underweight

My semiannual and annual pivots are $56.21 and $59.99, respectively. Reduce holdings on strength to my quarterly and monthly risky levels of $61.62 and $63.48, respectively.

Industrial Select Sector SPDR Fund (XLI) – Underweight

Buy weakness to my semiannual value level of $71.16. Reduce holdings on strength to my quarterly, monthly and annual risky levels of $77.57, $79.11 and $79.31, respectively.

Consumer Discretionary Select Sector SPDR Fund (XLY) – Underweight

Buy weakness to my semiannual and quarterly value levels of $97.61 and $95.98, respectively. Reduce holdings on strength to my monthly and annual risky levels of $104.68 and $107.96, respectively.

Consumer Staples Select Sector SPDR Fund (XLP) – Underweight

Reduce holdings on strength to my monthly, quarterly, semiannual and annual risky levels of $54.99, $58.49, $60.75 and $63.34, respectively.

Energy Select Sector SPDR Fund (XLE) – Underweight

Buy weakness to my semiannual value level of $59.88. Reduce holdings on strength to my monthly, quarterly and annual risky levels of $71.90, $78.32 and $88.91, respectively.

Financial Select Sector SPDR Fund (XLF) – Underweight

My quarterly, annual and semiannual pivots are $27.20, $26.77 and $26.69, respectively. Reduce holdings on strength to my monthly risky level of $29.81 and its June 2007 high of $30.83.

Utilities Select Sector SPDR Fund (XLU) – Equal-Weight

Reduce holdings on strength to my monthly, annual, semiannual and quarterly risky levels of $53.55, $54.46, $58.60 and $59.24, respectively.

Health Care Select Sector SPDR Fund (XLV) – Underweight

My quarterly pivot is $79.35. Reduce holdings on strength to my monthly, annual, semiannual pivots are $86.66, $88.09 and $91.42, respectively.

Technology Select Sector SPDR Fund (XLK) – Underweight

Buy weakness to my semiannual and annual value levels of $61.66 and $60.55, respectively, and reduce holdings on strength to my monthly risky level of $72.08.

iShares Transportation Average ETF (IYT) – Underweight

My semiannual pivot is $188.79. Reduce holdings on strength to my quarterly and annual risky levels of $194.69 and $204.61, respectively.

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