This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Watch Out! These 8 ETFs Have Negative Weekly Chart Profiles

NEW YORK (TheStreet) - Friday's close resulted in negative weekly charts for the Dow Industrials, S&P 500, Dow Transports and Russell 2000, but not for the Nasdaq, which ended the week above its five-week modified moving average at 4110.

Among the 11 sector exchange-traded funds I track, eight ended last week with negative weekly charts. The exceptions are Utilities Select Sector SPDR (XLU), which has a positive weekly chart, and the Technology Select Sector SPDR (XLK) and the Health Care Select Sector SPDR (XLV), which have neutral weekly chart because they closed above their five-week modified moving averages at $34.99 and $55.72, respectively.

The tech sector ETF has a similar weekly chart as the Nasdaq explaining the neutral pattern that includes declining 12x3x3 weekly slow stochastics and weekly close above its five-week MMA. The health care ETF has the same pattern.

The utilities sector ETF has a positive weekly chart which consists of a weekly close above its five-week MMA at $38.36 with its 12x3x3 weekly slow stochastic rising above 20.00 on a scale of 00.00 to 100.00.

Below I provide my buy-and-trade profiles for the eight ETFs that ended last week with negative weekly charts. These patterns may shift to neutral at the end of this week if Federal Reserve Chair Janet Yellen offers dovish comments in her testimony before Congress, which starts Tuesday in the House. The market wants the new Fed chairman to indicate that the tapering of quantitative easing may not continue at its current pace if economic data weaken.

Materials Select Sector SPDR (XLB) ($44.92) traded to an all-time intraday high at $46.56 on Jan. 21 then fell to $42.78 on Feb. 5 staying above its 200-day simple moving average at $42.33. The weekly chart is negative with its five-week MMA at $44.73 with the 200-week SMA at $37.24. My semiannual value level is $43.29 with a monthly pivot at $44.97 and quarterly risky level at $46.18. My annual value levels are $39.61 and $37.62. A positive reaction to Yellen comments would have this ETF above $44.73.

Industrial Select Sector SPDR (XLI) ($50.15) traded to an all-time intraday high at $52.32 on Jan. 15 then fell to $48.38 on Feb. 4 staying above its 200-day SMA at $46.75. The weekly chart is negative with its five-week MMA at $50.59 with the 200-week SMA at $37.61. My annual value level is $43.34 with a semiannual pivot at $50.88 and quarterly and monthly risky levels at $51.33 and $51.95. A positive reaction to Yellen comments would have this ETF above $50.88.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
XLF $24.55 0.82%
XLU $44.34 -2.00%
AAPL $129.08 0.48%
FB $79.74 0.98%
GOOG $571.00 2.30%

Markets

DOW 18,288.63 +155.93 0.86%
S&P 500 2,117.19 +12.69 0.60%
NASDAQ 5,008.0960 +44.5690 0.90%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs