There are changes to two Invesco models this week. The NDW Sector 4 Model (POWER4) sold the Invesco Dorsey Wright Industrials Momentum ETF (PRN) and bought the Invesco Dorsey Wright Energy Momentum ETF (PXI). PRN was sold because industrials dropped out of the top four in the model’s relative strength sector rankings. In its place, the model added PXI as energy has moved into the top four in the rankings. PXI currently has a favorable 4.69 fund score, which is 0.9 points better than the average for all energy and natural resource funds, and a positive 1.89 score direction. PXI returned to a buy signal in August with a double top break at $62 and continued higher to a new multi-year high at $66, breaking a spread quadruple top in the process. Year-to-date (through 10/2) PXI has gained 39.38% on a price return basis.

In addition to PXI, POWER4 also has exposure to financials, healthcare, and technology. Year-to-date, the model has gained 10.18%.

The Invesco Dynamic Equal Weight Sector Model (GUGGEWSECT) bought the Invesco S&P Equal Weight Financials ETF (RSPF) and sold the Invesco S&P Equal Weight Industrials ETF (RSPN). RSPN was sold because it fell out of the top three in the model’s relative strength sector rankings. In its place, the model added RSPF as financials have moved into the top three in the rankings. RSPF currently has a 2.41 fund score. On its default chart, the fund returned to a buy signal in June with a double top break at $79 and continued higher to a new all-time high at $86. RSPF has pulled back since that time and now sits near the bottom of its trading band. Year-to-date, RSPF is down 1.22% on a price return basis.

In addition to RSPF, the model also has exposure to healthcare and technology. Year-to-date, GUGGEWSECT is up 14.21%.

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.

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.