Stock market strength continues to be boosted by the sector exchange-traded funds for materials, industrial, energy, financials and transports. The lagging ETFs are real estate, consumer staples, health care and utilities. In between are the consumer discretionary and technology sectors.

Here's this week's scorecard for the 11 exchange-traded funds that represent each of the sectors of the S&P 500.

 

The SPDR Dow Jones REIT ETF (RWR) ended last week at $88.95, down 2.9% year to date, and in correction territory 14.7% below its all-time intraday of $104.34 set on July 29.

The weekly chart for RWR is negative but oversold with the ETF below its key weekly moving average of $91.87 and above its 200-week simple moving average of $85.61, last tested during the week of Feb. 12, when the average was $81.06. The weekly momentum reading declined to 12.58 last week down from 13.63 on Nov. 1, falling further below the overbought threshold of 80.00.

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Investors looking to buy the REIT ETF should do so on weakness to $85.62, which is the 200-week simple moving average. Investors looking to reduce holdings should consider selling strength to $101.16, which is a key level on technical charts until the end of 2016.

The Materials Select Sector SPDR Fund (XLB) ended last week at $48.32, up 11.3% year to date, and in bull market territory 33.1% above its Jan. 20 low of $36.29.

The weekly chart for XLB is positive with the ETF above its key weekly moving average of $47.47 and above its 200-week simple moving average of $45.60, last tested during the week of July 1, when the average was $44.51. The weekly momentum reading rose to 40.16 last week up from 34.10 on Nov. 11.

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Investors looking to buy the materials ETF should do so on weakness to $42.80, which is a key level on technical chart until the end of 2016. Investors looking to reduce holdings should consider selling strength to $52.35 and $53.66, which are key levels on technical charts until the end of November and until the end of 2016, respectively.

The Industrial Select Sector SPDR Fund (XLI) ended last week at $61.30, up 15.6% year to date and set its all-time intraday high of $61.54 on Nov. 15. This sector is benefiting from the notion that industrial companies will win on infrastructure spending initiatives. This ETF is in bull market territory 30.9% above its Jan. 20 low of $46.82.

The weekly chart for XLI is positive with the ETF above its key weekly moving average of $58.67 and above its 200-week simple moving average of $52.14, last tested during the week of Jan. 22 when the average was $47.92. The weekly momentum reading rose to 46.29 last week up from 35.87 on Nov. 11.

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Investors looking to buy the industrial ETF should do so on weakness to $57.42, which is a key level on technical charts until the end of 2016. Investors looking to reduce holdings should do so on strength to $61.88, which is a key level on technical chart until the end of November. My next risky level is $68.26, in play until the end 2016.

The Consumer Discretionary Select Sector SPDR Fund (XLY) ended last week at $81.20, up 3.9% year to date, and in bull market territory 20.1% above its Jan. 20 low of $46.82.

The weekly chart for XLY is positive with the ETF above its key weekly moving average of $79.45 and well above its 200-week simple moving average of $69.77. The weekly momentum reading rose to 34.59 last week up from 26.43 on Nov. 11.

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Investors looking to buy the consumer discretionary ETF should do so on weakness to $71.86, which is a key level on technical charts until the end of 2016. Investors looking to reduce holdings should consider selling strength to $84.23, which is a key level on technical charts until the end of November.

The Consumer Staples Select Sector SPDR Fund (XLP) ended last week at $50.50, flat year to date and nearly in correction territory 9.9% below the July 14 all-time intraday high of $56.02.

The weekly chart for XLP remains negative but oversold with the ETF below its key weekly moving average of $51.91 and above its 200-week simple moving average of $46.66. The weekly momentum reading slipped to 11.13 last week down from 14.41 on Nov. 11, moving further below the oversold threshold of 20.00.

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Investors looking to buy the consumer staples ETF should do so on weakness to $46.64, which is a key level on technical charts until the end of 2016. Investors looking to reduce holdings should consider selling strength to $55.98, which is a key level on technical charts until the end of November.

The Energy Select Sector SPDR Fund (XLE) ended last week at $71.13, up 17.9% year to date and in bull market territory 42.5% above its Jan. 20 low of $49.93.

The weekly chart for XLE remains neutral with the ETF above its key weekly moving average of $69.58 but well below its 200-week simple moving average of $77.71. The weekly momentum reading declined to 57.20 last week down from 58.37 on Nov. 11.

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Investors looking to buy the energy ETF should do so on weakness to $66.29, which is the 200-day simple moving average. Investors looking to reduce holdings should consider selling strength to $78.52, which is a key level on technical charts until the end of 2016.

The Financial Select Sector SPDR Fund (XLF) ended last week at $22.16, up 14.5% year to date and in bull market territory 39.7% above its Feb. 11 low of $15.86.

The weekly chart for XLF is positive with the ETF above its key weekly moving average of $20.39 and above its 200-week simple moving average of $18.24, last tested during the week of July 1 when the average was $17.58. The weekly momentum reading rose to 72.41 last week up from 67.71 on Nov. 11.

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Investors looking to buy the finance ETF should do so on weakness to $21.31 and $19.55, which are key levels on technical charts until the end November and until the end of 2016, respectively. Investors looking to reduce holdings should consider selling strength to $23.51, which is a key level on technical charts until the end of 2016.

The Health Care Select Sector SPDR Fund (XLV) ended last week at $69.70, down 3.2% year to date and is 11.2% above its Feb. 9 low of $62.68.

The weekly chart for XLV remains neutral with the ETF below its key weekly moving average of $69.97 and above its 200-week simple moving average of $63.35. The weekly momentum reading ended last week at 22.32 up from 15.87 on Nov. 11, moving above the oversold threshold of 20.00.

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Investors looking to buy the health care ETF should do so on weakness to $60.59, which is a key level on technical charts until the end of 2016. Investors looking to reduce holdings should consider selling strength to $74.97, which is a key level on technical charts until the end of November.

The Utilities Select Sector SPDR Fund (XLU) ended last week at $46.29, up 7% year to date and in correction territory 12.7% below its July 6 high of $53.02.

The weekly chart for XLU is negative with the ETF below its key weekly moving average of $47.72 and above its 200-week simple moving average of $43.26. The weekly momentum reading ended last week at 21.27 down from 23.58 on Nov. 11.

 

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Investors looking to buy the utilities ETF should do so on weakness to $43.26, which is the 200-week simple moving average. Investors looking to reduce holdings should consider selling strength to $51.19 and $51.46, which are key levels on technical charts until the end of 2016.

The Technology Select Sector SPDR Fund (XLK) ended last week at $47.36, up 10.6% year to date and in bull market territory 24.5% above its Jan. 20 low of $38.03.

The weekly chart for XLK has been upgraded to neutral with the ETF above its key weekly moving average of $47.05 and well above its 200-week simple moving average of $39.08. The weekly momentum reading declined to 55.12 down from 62.16 on Nov. 11.

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Investors looking to buy the technology ETF should do so on weakness to $46.72 and $35.69, which are key levels on technical charts until the end of 2016. Investors looking to reduce holdings should consider selling strength to $49.05 and $50.17, which are key levels on technical charts until the end of 2016 and until the end of November, respectively.

The iShares Transportation Average ETF (IYT) ended last week at $159.55, up 18.4% year to date and in bull market territory 38.8% above its Jan. 20 low of $114.91.

The weekly chart for IYT is positive but overbought with the ETF above its key weekly moving average of $148.61 and above its 200-week simple moving average of $137.90. The weekly momentum reading ended last week at 81.87 up from 76.83 on Nov. 11, and now is above the overbought threshold of 80.00.

Courtesy of MetaStock Xenith

Investors looking to buy the transportation ETF should consider doing so on weakness to $153.35 and $151.34, which are key levels on technical charts until the end of this week and until the end of November, respectively. Investors looking to reduce holdings should do so on strength to $189.51, which is a key level on technical charts until the end of 2016.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.

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