Consumer discretionary, health care and technology sector ETFs have set new highs post the Federal Reserve's latest rate hike
The REIT and energy sector ETFs remain the year-to-date losers, but only technology has a year-to-date gain above 10%. Here's how to trade all 11 S&P sector exchange-traded funds.
The S&P 500
Seven sectors have positive but overbought weekly charts. REITs, energy and transportation have negative weekly charts. The materials sector has a neutral weekly chart.
Despite continued stock market strength, weekly momentum is declining above the overbought threshold of 80. This is a negative divergence as weekly closes are further below the weekly highs. This observation supports the investment strategy to reduce holdings on strength.