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Bear Alerts On S&P Sectors To Watch Out For

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November 8
6:00 AM 2016

Overbought with the ETF under its key weekly moving average of $93.56 and above its 200-week simple moving average of $85.48, SPDR Dow Jones REIT ETF (RWR) drops negative. The weekly momentum reading dropped to 16.75 from 20.57 last week on Oct. 28. Now, falling lower than the overbought verge of 80.00.

Going to Materials Select Sector SPDR Fund (XLB), it still remains negative with the ETF under its key weekly moving average of $47.03. However it is overhead its 200-week simple moving average of $45.51. The week starting of July 1 was the last time it was tested, when the average was $44.51. The momentum reading also declined to 32.03 from 33.46 of last week.

A minus for the Industrial Select Sector SPDR Fund (XLI) as the ETF remains below its key weekly moving average of $57.25 and above its 200-week simple moving average of $51.93. The weekly momentum reading goes with a declined from 39.85 to 32.16.

The same goes for Consumer Discretionary Select Sector SPDR Fund (XLY) having a negative with the ETF underneath its key weekly moving average of $78.83 and well above its 200-week simple moving average of $69.46. The weekly momentum reading had a fall from 35.40 to 28.54.

Negative but oversold was the end result for the Consumer Staples Select Sector SPDR Fund (XLP) with the ETF below its key weekly moving average of $52.69 and well above its 200-week simple moving average of $46.52. Moving further below the oversold threshold of 20.00, the weekly momentum reading downfalls to 16.20 last week down from 18.00.

A huge disappointment for Energy Select Sector SPDR Fund (XLE) as it downgrades to negative from being positive with the ETF beneath its key weekly moving average of $69.12 and well lower than its 200-week simple moving average of $77.75 while the weekly momentum reading plummeted to 54.21 down from 69.80 on Oct. 28.

A neutral week for Financial Select Sector SPDR Fund (XLF) having their ETF just below its key weekly moving average of $19.51 and above its 200-week simple moving average of $18.16. During the week of July 1 was last time it was tested when the average was $17.58. The weekly momentum reading indicated at little nudge up from 62.72to 63.55 last week.

Negative but oversold is also the result for Health Care Select Sector SPDR Fund (XLV) with the ETF below its key weekly moving average of $69.92 and in the air in its 200-week simple moving average of $63.07. The weekly momentum reading fell to 13.86 last week down from 18.03, coming further below the oversold threshold of 20.00.

Utilities Select Sector SPDR Fund (XLU) is on the rise having upgraded to neutral with the ETF below its key weekly moving average of $48.58 and well beyond its 200-week simple moving average of $43.16. The weekly momentum reading upsurge to 23.56 last week up from 21.09 on Oct. 28, mounting above the oversold threshold of 20.00.

We have another upset with the Technology Select Sector SPDR Fund (XLK) downgrading to negative from positive. On the good side, it is overbought with the ETF above its key weekly moving average of $47.03 and well beyond its 200-week simple moving average of $38.90. The weekly momentum reading plunged to 72.26 from 81.34, falling less from the overbought threshold of 80.00.

Last but not the least we have Shares Transportation Average ETF (IYT) downgrading to neutral with the ETF above its key weekly moving average of $143.79 and beyond its 200-week simple moving average of $137.34. The weekly momentum reading finished last week at 75.37 from 76.97.

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