RSI reversal 2023
Also, note how the S&P performed the last two times the RSI traded at depressed levels.
Let’s cross fingers for an RSI reversal beginning this week, followed by the bullishness that Luke and Louis are calling for.
Index Performance
ETF P/E Ratio 12M Forward YTD Performance Communication Services Select Sector SPDR Fund (NYSE: XLC ) 14.9x 37.68% Technology Select Sector SPDR Fund (NYSE: XLK ) 24.6x 32.97% Consumer Discretionary Select Sector SPDR Fund (NYSE: XLY ) 22.8x 25.45% SPDR S&P 500 ETF Trust (NYSE: SPY ) 18.8x 13.80% Industrials Select Sector SPDR Fund (NYSE: XLI ) 18.1x 4.91% Energy Select Sector SPDR Fund (NYSE: XLE ) 11.8x 4.85% Materials Select Sector SPDR Fund (NYSE: XLB ) 17.8x 2.32% Financial Select Sector SPDR Fund (NYSE: XLF ) 13.7x -0.20% Health Care Select Sector SPDR Fund (NYSE: XLV ) 17.2x -3.03% Real Estate Select Sector SPDR Fund (NYSE: XLRE ) 32.9x -4.06% Consumer Staples Select Sector SPDR Fund (NYSE: XLP ) 18.9x -4.15% Utilities Select Sector SPDR Fund (NYSE: XLU ) 16.2x -8.10% Source: Koyfin, data as of Sept. 25, 2023
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