There is a change to the Invesco Sector Seven Model (POWER7) this week.
There is a change to the Invesco Sector Seven Model (POWER7) this week: sell the Invesco Energy Exploration & Production ETF (PXE) and buy the Invesco NDW Technology Momentum ETF (PTF). PXE was sold because its rank in the model’s relative strength matrix fell below the threshold to remain a holding in the portfolio; in its place the model added PTF as it was the highest-ranking fund in the matrix that was not already a model holding. PTF currently has a near-perfect 5.91 fund score, which is 1.93 points better than the average for all technology and communications funds, and a positive 3.38 score direction. After briefly falling to a sell signal in May, PTF rallied and returned to a buy signal with a double top break at $126 and continued higher, reaching an all-time chart high at $136; PTF subsequently pulled back to the middle of its trading band and is now forming a potential triangle pattern on its chart. Year-to-date (through 6/12) PTF has gained 69.64% on a price return basis.
In addition to PTF, POWER7 also has exposure to aerospace & defense, building & construction, clean energy, next gen connectivity, oil & gas services, & semiconductors. Year-to-date, the model has gained 32.43%.
