There are changes to two Invesco models this week. The DWA Sector 4 Model POWER4 bought the Invesco DWA Industrials Momentum ETF PRN and sold the Invesco DWA Basic Materials Momentum ETF PYZ. PYZ was removed from the model because materials fell out of the top four in the model’s sector rankings.  In place of PYZ, the model added PRN because industrials moved into the top four sectors in the rankings. In addition to industrials, the model also has exposure to consumer cyclicals, healthcare, and technology. This is the eleventh change to the model this year. Year-to-date (through 10/30), POWER4 has returned 2.1%, outpacing the S&P 500 SPX, which is up 1.21%, by about 90 basis points.

The Invesco Dynamic Equal Weight Sector Model GUGGEWSECT sold the Invesco S&P Equal Weight Materials ETF RTM and added the Invesco S&P Equal Weight Healthcare ETF RYH. RTM was removed because materials fell out of the top three in the model’s sector rankings. RYH was added in place of RTM as healthcare has moved into the top three sectors in the rankings. This is the ninth change to the model this year. In addition to healthcare, the model also has exposure to consumer discretionary and technology. Year-to-date, GUGGEWSECT is down -18.31%.

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

-26.13

				pgx
				pxh
				PRF
				psp
				phb
				pzt
				pid
				DBP
			kbwy	DGL
			PPA	pbp
			psr	KBWD	RYJ
			PWC	cvy	PDP
			PLW	pio	PRFZ
			pxi	DBV	pyz
			DEF	UDN	RPV
			PFI	RSP	pbe
			pdn	RYH	ryf
			pbj	PWB	pin
			piz	RGI	PSL
			PJP	rzv	pzd
			dbc	RPG	PNQI
			PFM	ewsc	rfv
			pez	RCD	EWMC	RFG
		pxf	DBS	RYT	pie	PTH
		RHS	pwz	picb	CGW	PHO
		PEJ	XLG	RZG	gsy	PSI
		dbo	PRN	csd	PSJ	pgj	ryu
		dbe	PKW	pkb	pey	DBB	pvi
		pxj	pza	PBS	PTF	adre	UUP
		rye	PXQ	dba	CZA	pui	pbd
		pcy	pgf	cut	rtm	PBW	TAN	cqqq	eny
<--100	-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.

The table below is a review of important technical data on a select group of Invesco ETFs. Significant changes within the past week are highlighted in Green if positive or Red if negative. This portfolio is designed to be used as a "radar" screen to bring your attention to potentially important technical changes that may require your attention and potential action. Below this week's featured portfolio is the ability to see other Invesco portfolios including Market, Sector, International, Dynamic family, and RAFI family. 

* - Dates prior to 1/24/2011, which is when the Invesco Sector Seven ETF Model Portfolio became available in the Invesco Weekly ETF Report, are representative of when the position was added to the backtested model.

* - Dates prior to 6/1/10, which is when the Invesco Small Cap Sector 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 6/7/13, which is when the DWA Global Technical Leaders Portfolio became available in the Invesco Weekly ETF Report, are representative of when the position was added to the backtested model.

* - Dates prior to 8/31/15, which is when the Invesco Multi Factor Global Equity Model became available in the Invesco Weekly ETF Report, are representative of when the position was added to the backtested model.

* - 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.