With the advance over the last 13 months, the Energy SPDR (XLE) and the Utilities SPDR (XLU) retraced less than 50% of the prior declines. Excluding the Financials SPDR (XLF), these retracements were the shallowest of the eight sector SPDRs, which makes these two chart laggards over the last few years.
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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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