There is a change to the Invesco Commodity Model POWRSHARES this week: buy the Invesco DB Base Metals Fund DBB and sell the Invesco DB Energy Fund DBE. DBE was removed because its rank in the model’s relative strength matrix fell below the threshold to remain a holding in the portfolio. In place of DBE, the model added DBB as it was the highest-ranking fund in the matrix that was not already a holding in the model. This is the second change to the model this year.

DBB currently has a favorable 4.17 fund score and positive 1.48 score direction. On its default chart, DBB has given two consecutive buy signals and currently sits one box below the multi-year high it reached it February. Year-to-date (through 4/9) DBB has gained 10.31% on a price return basis.

In addition to DBB, the model also has exposure to the Invesco DB Oil Fund DBO. Year-to-date the model has gained 19.13%.

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

22.72

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

928= Intl.

929 = Mkt

930 = Sect

931 = commod

932 = dyn

* - 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.