Here are three sector ETFs that could push the S&P down.
The Energy Select Sector SPDR Fund (XLE) is down 2.9% for the year to date, underperforming the S&P's 3.3% gain. Another market drag is the Utilities Select Sector SPDR Fund (XLU), which is down 9.5% for the year to date.
Let's look at the weekly charts for the three negative sector ETFs and provide trading guidelines.
Here's the weekly chart for the Energy ETF.
Courtesy of MetaStock Xenith
The Energy ETF, at $77, is down 2.7% year to date after trading as low as $71.70 on Jan. 14. This ETF is below its 50-day and 200-day simple moving averages of $80.15 and $82.13, respectively.
The weekly chart stays negative if the ETF ends the week on June 12 below its key weekly moving average of $79.22. This ETF is also below its 200-week simple moving average at $79.13. This ETF has been trading around its "reversion to the mean" since the week of Oct. 1