No. of SPDR Sectors Above 50-MA
This may come as a surprise to some of you, especially those who haven't gained traction or had trades that could stick in recent period (even I myself got stopped out of $iShares Expanded Tech-Software Sector ETF(IGV)$ on two separate attempts since the below post but at the end of the day, it's all about numbers and probabilities)
No. of SPDR Sectors Above 50-MA
One Month Earlier: 1 out of 11
Today: 10 out of 11
Recent weeks may have been a chop fest but quite a number of charts at sectoral and group level are displaying tightening action similar to $iShares U.S. Aerospace & Defense ETF(ITA)$ here. Take a bird's-eye view of $Communication Services Select Sector SPDR Fund(XLC)$ $Industrial Select Sector SPDR Fund(XLI)$ $Materials Select Sector SPDR Fund(XLB)$ $Health Care Select Sector SPDR Fund(XLV)$, it's painting a compelling picture, until the structure breaks.
Continue to turn up and build your watchlist diligently. You often get rewarded most when you least expect of it
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