BTIG waves the caution flag around the consumer staples sector

seekingalpha2024-09-17

BTIG's Jonathan Krinsky has waved a caution flag on the Consumer Staples sector, saying in a recent investor note that the segment appears to be extremely overbought. “We reiterate our caution on the ...

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GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4150295-btig-waives-the-caution-flag-around-the-consumer-staples-sector><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BTIG's Jonathan Krinsky has waved a caution flag on the Consumer Staples sector, saying in a recent investor note that the segment appears to be extremely overbought. “We reiterate our caution on the ...</p>\n\n<a href=\"https://seekingalpha.com/news/4150295-btig-waives-the-caution-flag-around-the-consumer-staples-sector\">Source 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ETF"},"translate_title":"BTIG对必需消费品行业持谨慎态度","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PBJ":1,"VDC":1,"PG":1,"PM":1,"FSTA":1,"FXG":1,"KXI":1,"PSL":1,"PSCC":1,"IYK":1,"WMT":0.9,"COST":0.9,"KO":0.8},"content_text":"BTIG's Jonathan Krinsky has waved a caution flag on the Consumer Staples sector, saying in a recent investor note that the segment appears to be extremely overbought. “We reiterate our caution on the Consumer Staples sector here. The Consumer Staples ETF (NYSEARCA:XLP) has been up 10 of the last 11 weeks, with the one down week losing just -0.14%. Weekly RSI is pushing 79, the highest in a decade,” Krinsky said on Monday. The analyst went on to add that the equal-weight staples ETF (NYSEARCA:RSPS) still trades below its March 28 year-to-date peak. “As a result, the XLP/RSPS ratio is now 6.7% above its 200 DMA, the widest spread since 2008.” The investment firm further highlighted that the cap-weighted XLP has become increasingly more dependent on a couple of big names, including the likes of Walmart (WMT) which BTIG noted is now 28% above its 200 DMA. For reference, XLP comprises 39 total holdings, but the fund’s top five holdings together represent more than half, 54.8% to be exact, of the entire exchange-traded fund’s portfolio allocation. See below XLP’s top five largest holdings and allocations:  Procter & Gamble (PG): 14.21% allocation. Costco Wholesale Corp (COST): 14.05% allocation. Walmart (WMT): 11.91% allocation. Coca-Cola (KO): 9.58% allocation. Philip Morris International (PM): 5.05% allocation.  Furthermore, for investors looking to further keep a pulse on the Consumer Staple sector of the economy, they can look to further analyze other exchange-traded funds within the space as well. See a grouping of funds worth noting below: Consumer Staples ETFs: (VDC), (IYK), (FSTA), (KXI), (FXG), (PBJ), (PSL), and (PSCC).","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.0","shortVersion":"4.30.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2468350090"}