The S&P 500 is divided into 11 sectors, and each can be traded using its own exchange-traded fund. Since the election, the ETFs for materials, industrials, energy, financials and transportation have led, but 2016 ended with the weekly charts for these ETFs showing negative technical divergence. Is the "Trump bump" over? Let's explore the weekly charts.

The sector ETFs that are gaining investor interest are safer investments such as real estate and utilities, which have positive weekly charts.

Some say that strong readings for consumer confidence is positive for the stock market, but that notion isn't reflected in the consumer-related ETFs. The consumer discretionary ETF now has a negative weekly chart and the consumer staples ETF has been downgraded to neutral from positive.

The ETFs that have benefited from the post-election rally -- materials, industrials, energy, financials and transportation -- are beginning to show technical stress. Materials has been downgraded to neutral. Industrials and energy are becoming less overbought, and energy failed at its 200-week simple moving average. The financial sector remains positive but overbought, but has slid from its 2016 high of $23.87 set on Dec. 15. Transports remain positive but overbought, but has been decelerating since setting its high of $171.16 on Dec. 9.

The health care sector ETF has a neutral weekly chart and the technology sector ETF ended 2016 with a positive weekly chart, but with an outside day to the downside. Last week's high was not an all-time high but was above the high for the week of Dec. 23, and the 2016 close was below the low of the week of Dec. 23.

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 $93.35, up just 1.9% in 2016. It is in correction territory, 10.5% below its all-time intraday high of $104.34, set on July 29. It is also 15.6% above its Feb. 11 low of $80.74.

The weekly chart for the REIT ETF is positive, with the ETF above its key weekly moving average of $92.04 and above its 200-week simple moving average of $86.08, last tested during the week of Feb. 12, when the average was $81.06. The weekly momentum reading rose to 40.42 last week, up from 33.16 on Dec. 23.

Courtesy of MetaStock Xenith

Investors looking to buy the REIT ETF should do so on weakness to $86.16, which is the 200-week simple moving average. Investors looking to reduce holdings should consider selling strength to $94.74 and $99.70, which are key levels on technical charts until the end of March and until the end of January, respectively. Semiannual and annual risky levels are $101.09 and $112.38, respectively.

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