Believe it or not, the Technology SPDR (XLK) is outperforming the S&P 500 ETF (SPY) in July. The chart below shows four price relatives comparing the performance of the Technology SPDR (XLK), Industrials SPDR (XLI), Financials SPDR (XLF) and Consumer Discretionary SPDR (XLY) to the S&P 500 ETF (SPY). The XLK:SPY ratio (pink) moved sharply higher in July, but the other three moved lower. Techs cannot do it alone.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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