On April 6, 2018, Guggenheim Investments closed the sale of its ETF business to Invesco, Ltd. The Guggenheim ETFs have been transitioned, or are in the process of being transitioned to become part of the Invesco fund family. Please visit invesco.com for information concerning the ETFs.

There are no changes to be made within either of the Dorsey Wright Invesco Models this week, as each of the current holdings continues to maintain positive relative strength within the respective universes.

Today we will review some of the top scoring ETFs within the Invesco lineup and go over some of the more popular metrics used on the platform. Currently, there are 11 ETFs scoring above 5 within the lineup, which can be seen in the image below. Remember, fund scores range from 0-6, with 6 being the best score possible. The composition of score can be broken down into three components: trend, relative strength versus the market, and relative strength versus its peers. Direction measures the improvement or deterioration in score within the past six months. A positive number indicates improvement while a negative number indicates deterioration from a trough or peak in score. OBOS (%) stands for overbought/oversold percentage, which looks at the price relative to the 10-week moving average and is synonymous with weekly distribution that you will see on the platform. This percentage is seen visually as where the security falls within the Top, Med, and Bot on the right-hand side of a Point & Figure chart. rRisk measures the three-year volatility of a security relative to the S&P 500 Index SPX. The SPX will always have an rRisk of 1 so if a security is greater than one, it carries more risk and vice versa. Those of you familiar with Beta can strip out the correlation component essentially and then you have rRisk. Yield is simply the dividend paid by owning shares of these securities. Those looking to put money to work could consider these 11 funds for long ideas; however, it is advised to consult the Point & Figure chart before making a decision. To read more on these funds, visit the Invesco website at www.invesco.com.

The distribution curve places each ETF on a bell curve according to their respective degrees of overbought or oversold status using a 10-week distribution. ETFs that are statistically oversold will appear on the left-hand side of the bell curve, while those that have become statistically overbought will appear on the right-hand side of the bell curve. Perhaps the most useful attribute of this feature is that it displays the entire universe on the curve at one time to give us a general picture of whether the Invesco ETF universe is generally overbought on a near-term basis, or generally oversold. Our best opportunities are to buy strong relative strength ETFs that have regressed back toward mean conditions based on market weakness, or have become oversold based upon extreme market weakness. Weekly Distribution is a short-term gauge that is most helpful in timing entry and exit points, while the longer-term information of trend and relative strength is a more controlling factor in the decision of whether to buy or sell.

Average Level: 21.21

The average Bullish Percent reading this week is 53.54% down 0.19% from the previous week

						tao	wmcr
						rye	RTM	RSP
						lvl	CZA	XLG	NFO
					eeb	hao	CQQQ	cvy	RYJ
				sea	ryu	RHS	RPV	RYH	RFG
ewem				hgi	cut	RGI	wrei	CSD	RYT		RCD
frn			tan	eny	RYF	gsy	DEF	RFV	RPG	rzv	RZG
	-100--80	-80--60	-60--40	-40--20	-20-0	0-20	20-40	40-60	60-80	80-100	100->

Legend:

• UPPERCASE indicates that the RS chart is on a buy signal.
• lowercase indicates that the RS chart is in a sell signal.
• GREEN lettering indicates the ETFs trend chart is on a buy signal.
• RED lettering indicates the ETF is on a sell signal.
• Box Color indicates the Sector Status Rating. Green = Favored, Yellow = Average, and Red = Unfavored.

This section of the report categorizes all of the Invesco ETFs by their respective broad group. Along with each group, you can view the Average Group Score, which is an average of the scores of all funds represented in that particular group. Those Invesco ETFs that meet or exceed the Average Group Score will be highlighted in green in order to easily view those Invesco ETFs that have superior strength within their respective group. You want to focus on those ETFs that exhibit superior strength when looking to add new exposure to a particular group.

The DWA Matrix uses a Point & Figure relative strength comparison of each index to one another to identify the strongest and the weakest among the universe used. The ETFs with the most relative strength buy signals (suggesting outperformance) versus the others in the group are listed at the top. These ETFs should be overweighted in the portfolio. Those ETFs with the least amount of relative strength buy signals versus the others in the group are listed at the bottom. These ETFs should be underweighted in the portfolio. The DWA Matrix uses a Point & Figure relative strength comparison of each index to one another to identify the strongest and the weakest among the universe used. The ETFs with the most relative strength buy signals (suggesting outperformance) versus the others in the group are listed at the top. These ETFs should be overweighted in the portfolio. Those ETFs with the least amount of relative strength buy signals versus the others in the group are listed at the bottom. These ETFs should be underweighted in the portfolio.

Weekly Update:

* - Dates prior to 10/14/08, which is when the Invesco Special Opportunities Model ETF Portfolio became available in the Invesco Weekly ETF Report, are representative of when the position was added to the backtested model.

* - Dates prior to 8/15/2017, which is when the Invesco Dynamic Equal Weight Sector Model became available in the Invesco Weekly ETF Report, are representative of when the position was added to the backtested model.