The chart below shows year-to-date relative performance for four sector SPDRs (XLK, XLF, XLI and XLY). Notice that the XLK:SPY ratio shot up over the last two weeks and moved to its highest level of the year (above the February peak). In fact, the XLK:SPY ratio is the only one in positive territory and technology is clearly the strongest of these four sectors right now.
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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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