XLC: the decline stalls as buyers step back in
XLC gains 1.9% as buyers retake control of the Communications sector fund
XLC: the decline stalls as buyers step back in
Our view last week
XLC, the State Street US Communications sector fund, is in week 5 of a sell signal: the week recovered 3.2%, but the bounce stalled just short of its nearest resistance. The signal failed to confirm over the three observation weeks, strength falls to 27 out of 100, and the sector fund ranks 46th among the 137 US sell signals.
This week's summary
For the second week running, XLC is pushing higher: the 1.9% bounce came with 86% of volume on the buy side, and money flow — still negative — is easing back toward neutral. The Communications sector fund stays boxed in, though, between support in the 111.6 area and resistance in the 112.3 area: until that ceiling gives way, the decline keeps the upper hand.
IQS Phase
71
in tension
Signal Strength
2
decline nearly over
Sizing
MINIMUM
Ranking
#131 / 137
US stocks
Trade P&L %
+0.03%
from signal to today
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