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.

The Materials Select Sector SPDR Fund (XLB) ended last week at $49.70, up 14.5% in 2016. It set its multiyear intraday high of $51.69 on Dec. 12. The multiyear high of $52.22 was set in February 2015. The ETF is in bull market territory, 36.9% above its Jan. 20 low of $36.29.

The weekly chart for the Materials ETF has been downgraded to neutral, with the ETF above its key weekly moving average of $49.50 and above its 200-week simple moving average of $45.93, last tested during the week of July 1, when the average was $44.51. The weekly momentum reading slipped to 79.12 last week, down from 81.41 on Dec. 23, falling below the overbought threshold of 80.00.

Courtesy of MetaStock Xenith

Investors looking to buy the materials ETF should do so on weakness to $49.43 and $44.49, which are key levels on technical charts until the end of January and until the end of March, respectively. Investors looking to reduce holdings should consider selling strength to $55.87 and $61.72, which are key levels on technical charts until the end of June and until the end of 2017, respectively.

The Industrial Select Sector SPDR Fund (XLI) ended last week at $62.22, up 17.4% in 2016, after setting its all-time intraday high of $64.07 on Dec. 7. This ETF is in bull market territory, 32.9% above its Jan. 20 low of $46.82.

The weekly chart for the Industrials ETF remains positive but overbought, with the ETF above its key weekly moving average of $61.72 and above its 200-week simple moving average of $52.81, last tested during the week of Jan. 22 when the average was $47.92. The weekly momentum reading slipped to 84.92 last week, down from 86.87 on Dec. 23, still above the overbought threshold of 80.00.

Courtesy of MetaStock Xenith

Investors looking to buy the industrials ETF should do so on weakness to $61.84 and $56.09, which are key levels on technical charts until the end of January and until the end of March, respectively. Investors looking to reduce holdings should do so on strength to $70.05 and $71.67, which are key levels on technical charts until the end of 2017 and until the end of June, respectively.

The Consumer Discretionary Select Sector SPDR Fund (XLY) ended last week at $81.40, up 4.1% in 2016. It is in bull market territory, 20.4% above its Jan. 20 low of $46.82. This ETF set its all-time intraday high of $84.68 on Dec. 13.

The weekly chart for the Consumer Discretionary ETF has been downgraded to negative, with the ETF below its key weekly moving average of $81.63 and well above its 200-week simple moving average of $70.73. The weekly momentum reading fell to 75.15 last week, down from 78.22 on Dec. 23.

Courtesy of MetaStock Xenith

Investors looking to buy the consumer discretionary ETF should do so on weakness to $81.30, which is a key level on technical charts until the end of January. Investors looking to reduce holdings should consider selling strength to $84.35, which is a key level on technical charts until the end of March. Annual and semiannual risky levels are $97 and $98.70, respectively.

The Consumer Staples Select Sector SPDR Fund (XLP) ended last week at $51.71, up just 2.4% in 2016, and 7.7% below the July 14 all-time intraday high of $56.02. The ETF is up 9.1% from its Jan. 20 low of $47.39.

The weekly chart for the Consumer Staples ETF has been downgraded to neutral, with the ETF below its key weekly moving average of $51.77 and above its 200-week simple moving average of $47.08. The weekly momentum reading ended last week at 45.97, up from 38.16 on Dec. 23.

Courtesy of MetaStock Xenith

Investors looking to buy the consumer staples ETF should do so on weakness to $51.15, which is a key level on technical charts until the end of this week. Investors looking to reduce holdings should consider selling strength to $53.48 and $53.68, which are key levels on technical charts until the end of March and until the end of January, respectively.

The Energy Select Sector SPDR Fund (XLE) ended last week at $75.32, up 24.9% in 2016. It is in bull market territory, 50.9% above its Jan. 20 low of $49.93. This ETF set its 2016 high of $78.45 on Dec. 12, then faded by 4%.

The weekly chart for the Energy ETF remains positive but overbought, with the ETF above its key weekly moving average of $74.05, and now below its 200-week simple moving average of $77.63. The weekly momentum reading slipped to 82.64 down from 84.20 on Dec. 23, still above the overbought threshold of 80.00.

Courtesy of MetaStock Xenith

Investors looking to buy the energy ETF should do so on weakness to $73.68, which is a key level on technical charts until the end of January. The $59.87 level is a value level until the end of March. Investors looking to reduce holdings should consider selling strength to $80.73 and $84.23, which are key levels on technical charts until the end of this week and until the end of June, respectively.

The Financial Select Sector SPDR Fund (XLF) ended last week at $23.25, up 20.2% in 2016. It is in bull market territory, 46.6% above its Feb. 11 low of $15.86. This ETF set its multiyear intraday high of $23.87 on Dec. 15.

The weekly chart for the Financials ETF remains positive but overbought, with the ETF above its key weekly moving average of $22.51 and above its 200-week simple moving average of $18.51, last tested during the week of July 1 when the average was $17.58. The weekly momentum reading slipped to 91.23 last week, down from 91.76 on Dec. 23, still well above the overbought threshold of 80.00.

Courtesy of MetaStock Xenith

Investors looking to buy the finance ETF should do so on weakness to $22.19 and $19.86, which are key levels on technical charts until the end of January and until the end of March, respectively. The $23.65 level is an annual pivot or magnet. Investors looking to reduce holdings should consider selling strength to $25.87, which is a key level on technical charts until the end of June.

The Health Care Select Sector SPDR Fund (XLV) ended last week at $68.94, down 4.3% in 2016. The ETF is 10% above its Feb. 9 low of $62.68. This ETF is 9.3% below its Aug. 1 high of $76.

The weekly chart for the Health Care ETF remains neutral, with the ETF below its key weekly moving average of $69.36 and above its 200-week simple moving average of $64.12. The weekly momentum reading rose to 44.59 last week, up from 41.47 on Dec. 23.

Courtesy of MetaStock Xenith

Investors looking to buy the health care ETF should do so on weakness to $64.25, which is the 200-week simple moving average. Investors looking to reduce holdings should consider selling strength to $71.79, $72.65 and $78.09, which are key levels on technical charts until the end of January, until the end of March and until the end of 2017, respectively.

The Utilities Select Sector SPDR Fund (XLU) ended last week at $48.57, up 12.2% in 2016, which has the ETF 8.4% below its July 6 high of $53.02, and 17% above its Dec. 11, 2015 low of $41.50.

The weekly chart for the Utilities ETF remains positive, with the ETF above its key weekly moving average of $48.03 and above its 200-week simple moving average of $43.60. The weekly momentum reading rose to 48.62 last week, up from 39.54 on Dec. 23.

 

Courtesy of MetaStock Xenith

Investors looking to buy the utilities ETF should do so on weakness to $47.25 and $46.26, which are key levels on technical charts until the end of this week and until the end of March, respectively. Investors looking to reduce holdings should consider selling strength to $50.53 and $50.72, which are key levels on technical charts until the end of January and until the end of 2017, respectively. A semiannual risky level is $54.29.

The Technology Select Sector SPDR Fund (XLK) ended last week at $48.36, up 12.9% in 2016. It is in bull market territory, 27.2% above its Jan. 20 low of $38.03. This ETF set its 2016 high of $49.40 on Dec. 15.

The weekly chart for XLK remains positive, with the ETF above its key weekly moving average of $48.01 and well above its 200-week simple moving average of $39.63. The weekly momentum reading rose to 76.36 last week, up from 75.15 on Dec. 23.

Courtesy of MetaStock Xenith

Investors looking to buy the technology ETF should consider doing so on weakness to $46.95, which is a key level until the end of March. Investors looking to reduce holdings should consider selling strength to $51.30, $53.45 and $55.49, which are key levels on technical charts until the end of January. Until the end of June and until the end of 2017, respectively.

The iShares Transportation Average ETF (IYT) ended last week at $162.84, up 20.9% in 2016. It is in bull market territory, 41.7% above its Jan. 20 low of $114.91. This ETF set its all-time intraday high of $171.16 set on Dec. 9.

The weekly chart for the Transports ETF is positive but overbought, with the ETF above its key weekly moving average of $160.53 and above its 200-week simple moving average of $139.69. The weekly momentum reading slipped to 85.87, down from 90.10 on Dec. 23, still above the overbought threshold of 80.00.

Courtesy of MetaStock Xenith

Investors looking to buy this ETF should do so on weakness to $122.73, which is a key level on technical charts until the end of March. The $136.03 level should be a magnet in January. Investors looking to reduce holdings should do so on strength to $151.66, $154.12 and $154.33, which are key levels on technical charts until the end of this week, until the end of June and until the end of 2017, respectively.

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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