The S&P 500 I:GSPC is divided into 11 sectors, each traded by its own exchange-traded fund. Since its post-election low, the only sector ETF in bull market territory is financial, but this ETF has a negative weekly chart.
Since its post-election high, the only sector ETF in correction territory is energy, but this weekly chart is showing rising momentum. The daily chart for the energy ETF shows that this week began by a "death cross." This occurs when the 50-day simple moving average crosses below the 200-day simple moving average and indicates that lower prices lie ahead. At Monday's close the 50-day and 200-day simple moving averages are $70.92 and $70.97, respectively.
Lower U.S. Treasury yields helped the REITs ETF maintain a positive weekly chart, but kept the financial sector ETF under a negative weekly chart.
Consumer Discretionary and Consumer Staples, utilities and technology ETFs have positive but overbought weekly charts.
Materials, industrial and transportation ETFs have negative weekly charts, and the health care ETF weekly chart is neutral.
This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.