The Energy SPDR (XLE) is still one of the leading sectors in 2011, but the ETF has started showing relative weakness over the last 30 trading days. The PerfChart below shows XLE as the weakest of the nine sectors since March 25th. All sectors are up, but XLE is down almost 5%. Notice that the three defensive sectors are leading sine March 25th.
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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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