The Equal-weight Utilities ETF (RYU) is the best performing sector year-to-date with an 8% gain. The Equal-Weight Consumer Discretionary ETF (RCD) is the only sector in the red with a 2.23% loss. Absolute weakness in RCD and relative weakness in the Equal-weight Industrials ETF (RGI) are the main reason the Equal-Weight S&P 500 ETF (RSP) sports only a 1.91% gain. Notice that the Equal-weight Technology ETF (RYT) is the third strongest sector overall and strength in the technology sector is countering weakness in the consumer discretionary sector.
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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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