XLU rises 2.5%: a fresh buy on the utilities ETF, though with some technical caution
XLU, the US utilities ETF: XLU technical analysis on a fresh buy signal, first week. Price rises 2.5% after a double bottom in the 44 area, but signal strength stays weak and the weekly trend is losing conviction.
XLRE gains 1.2% and tests new highs, but the rejection keeps the rally in check
XLRE technical analysis: the US real estate ETF tests fresh highs near the 46.1 area but gets rejected, as buyers stay dominant and money flow accelerates. The trade is in play at +7.3%, with residual capital protected by a trailing stop.
XLP slips 1.2%, pinned between its 20- and 50-day averages
XLP technical analysis: this US consumer staples ETF's buy signal is now in its 9th week, with signal strength fading to 29 and price boxed between its 20- and 50-day averages. A cautious setup, as the sector still stays weak.
XLK +0.2% as sellers retake control: MACD turns bearish
XLK technical analysis: the US technology ETF closes flat (+0.2%) as the MACD turns bearish and 87% of volume trades to the sell side. The swing trade is 14 weeks in, still backed by the double bottom in the 173 area.
XLI climbs 1.8% and confirms the double bottom in the 174 area
XLI technical analysis: the US industrial sector ETF bounces 1.8% on strong buying volume after a clean double bottom in the 174 area, with the model's coverage now complete and the trade up 5.3% in its 14th week of management.
XLG slips 1.2% as sellers stay in charge even with ADX fading
XLG slips 1.2% in a week dominated by sellers (88% of volume), with money flow and momentum both negative. ADX has fallen for the 4th straight week: the trend is losing conviction even as price keeps falling, boxed between a nearby support and resistance.