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Communications Sector XLC outperforms

As we can see in the blue box, XLC – the Communication Services Select Sector SPDR Fund – went through a retracement stage. This correction went as far as the lower Bollinger Band and the 50-day exponential moving average.

At that phase, the bulls decided to take the initiative and the pushed price above the 10-day exponential moving average and close to the 20-day exponential moving average.

Our momentum indicator, the MACD, stopped its downtrend and is approaching its signal line.

Finally, XLC’s Relative Strength is currently moving above its 20-day exponential moving average.

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