February Select SPDR ETF Sector Review
A look back on February’s Select SPDR ETF Sector performance through technical analysis.
See January’s Select SPDR ETF Sector Review HERE!
Performance results; January 30, 2013- March 5, 2013.
Consumer Discretionary (XLY)
XLY continues to push higher breaking out over $51 resistance toward the end on February. Prices up 3.28% in February.
Consumer Staples (XLP)
XLP was up 4.66% over February continuing its uptrend after breaking out over $36 resistance early January. Prices paused only slightly at $38 before continuing higher. RSI is now pushing into overbought conditions.
XLE lagged in February up only .66% after breaking out over $76 in January. Since then prices have stalled at $79 resistance finding support at the past $76 resistance. MACD showing convergence with the up-trend price action.
Financials stalled slightly at $18 resistance before continuing to push higher. RSI is hitting overbought territory yet again.
Health Care (XLV)
XLV paused momentarily at $43.50 resistance before continuing its uptrend from the December breakout over $41. RSI has stayed overbought for 5 weeks now, prices up 3.18% in February.
Industrials were up 2.93% in February and continue to push higher after breaking out of the weekly ascending triangle formation. Prices stalled momentarily at $41.50 before continuing the uptrend.
Materials were the worst performer over the month of February losing 1.42%. XLB failed to hold the breakout over $29.50 resistance and fell back lower to defend the $38 support and the weekly 20 EMA. Prices look to retest the $39.50 resistance in near future.
XLK is looking to breakout finally over the $30 resistance to break down the head and shoulders formation. Next resistance lies above at $31.50.
Utilities were one of the top performers in February up 4.36%. Prices are breaking out over the $37.50 resistance from July 2012 highs.
NEW Additions To The List
Homebuilders Index (XHB)
Homebuilders have been on a storing uptrend since November 2011 and continue to push higher. Prices found recent resistance at $29.50 but look to breakout in March.
Metals & Mining (XME)
XME have been on a downtrend since mid 2011. Toward the end of 2012 prices were forming an ascending triangle formation but support was lost during February. Lower support is at $38. MACD is attempting a bearish crossover and is below the zero line; a bearish indicator.