Seven of the nine sector SPDRs recorded new 52-week highs in November or December. Among those, the Utilities SPDR (XLU) broke resistance from its 2009 highs with a surge above 31 this month. The ETF is short-term overbought after a 10% advance the last six weeks, but the long-term trend is up.
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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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