US Materials ETF, week 16 of active management
XLB slips 1.6% as the bounce stalls right at its first hurdle
US Materials ETF, week 16 of active management
Our view last week
XLB, the US Materials sector ETF, bounces 1.4% with 99% of volume on the buy side, after a week of heavy selling. Our technical analysis on XLB shows price boxed into a very tight corridor between the daily Kumo ceiling and the pivot point, while the weekly ADX keeps sliding. The trade has been open for 15 weeks and still sits at a small loss.
This week's summary
XLB, the US materials sector ETF, closed the week down 1.6%, with 91% of volume on the sell side, after the prior week saw the opposite — buyers firmly in charge. Price stays boxed between the first resistance in the 50.6 area and the first support in the 50.1 area, while the trade is in its 16th week of management and shows a small loss of 2.9% from entry. Technical analysis of the ETF and the key levels to watch.
IQS Phase
34
ordinary
Signal Strength
42
medium · weak
Sizing
REDUCED
Ranking
#79 / 120
US stocks in progress
Trade P&L %
-2.94%
from signal to date, no stop loss
Rank position
ranks 79th among the 120 Longs already running for US stocks in our ranking, with a signal strength of 42 out of 100.
Sector context
SectorETF Settoriale
Benchmark ETFXLB
Sector regimeweak phase
Performanceweekly -1.62% · monthly -1.16%
XLB belongs to the etf settoriale sector (reference ETF XLB). The sector is classified weak phase according to our weekly reading.
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