The table below shows the StockCharts Technical Rank (SCTR) for our ETF universe. This table is sorted by "change" with the biggest gainers at the top. In particular, the SCTR for the Home Construction iShares (ITB) surged 23.5 points and moved above 75 and the SCTR for the Retail SPDR (XRT) surged 15.1 points and moved above 60. These two are suddenly showing relative strength and this is a positive sign for the consumer discretionary sector. You can read more about the SCTR calcuations in our ChartSchool article.
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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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