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Market/ETF Video – CBM Makes a Change, SPY and QQQ Challenge Resistance, Setups in Clean Energy, Solar and Transports (Premium)

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Market/ETF Review and Outlook Video

The Composite Breadth Model turned positive and hit its highest level since January 2022. This means the weight of the evidence turned bullish for stocks. Narrowing yield spreads show increasing confidence in the credit markets and this is also a positive for stocks. 2023 saw a shift from risk-off defensive ETFs to risk-on high-beta ETFs. Several tech-based ETFs confirm this shift as they broke above their November-December highs and forged higher highs. Today’s video will cover these breakouts as well as the big falling wedge in SPY and the double bottom in QQQ.

Broad Market Notes

  • CBM Surges to +3
  • %Above 200-day Exceeds 60% for $NDX and $MID
  • SPY Breaks Wedge Line and Challenges 30-Nov Peak
  • When Wedges Turn into Channels
  • %Above 20-day: When Signals Fail
  • Yield Spreads in Downtrend (Narrowing)
  • QQQ Challenges Double Bottom Resistance
  • IWM Outperforms and Breaks Nov-Dec Highs
  • 20+ Yr Treasury Bond ETF Forms Bullish Pennant
  • Dollar Consolidates within Downtrend
  • Gold Holds Gains, but Remains Overbought
  • US Oil Fund Breaks Short-term Support

ETF Trends, Patterns and Setups

  • New Trend Composite Signals
  • New Oversold Setup, but Filter Fail
  • Technology SPDR Challenges December High (XLK)
  • Cybersecurity and Software Extend on Wedge Breakouts (CIBR, IGV)
  • Self-Driving and Autos Confirm Double Bottoms (DRIV, IDRV, CARZ)
  • Internet, Mobile Payments and Semis Forge Higher Highs (FDN, IPAY, SOXX)
  • Home Construction Continues to Lead (ITB)
  • Insurance and Aerospace/Defense Hit New Closing Highs (KIE, PPA)
  • Biotechs Hold Breakouts/Uptrends (IBB, XBI)
  • Defensive Groups Lag, but Form Bullish Pullbacks (SPLV, XLV, XLP, PBJ, XLU)
  • Energy ETFs Hold Breakouts (XLE, XOP, FCG, AMLP, XES)
  • Solar Energy and Global Clean Energy Consolidate after Surge (TAN, ICLN)
  • Transports Form Bull Flag (IYT)
  • Platinum, Silver and Copper Correct/Consolidate after Surges (PLTM, SLV, CPER)
Thanks for tuning in and have a great day!

Market and ETF Report – SPY, QQQ and Oil Hit Resistance, Energy ETFs Hold Breakouts, Defensive ETFs with Pullback Setups (Premium)

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The stock market is quite mixed at the moment. The Composite Breadth Model is negative and the 5-day SMA for the S&P 500 is below the 200-day SMA. The percentage of stocks above the 200-day SMA indicators, however, are showing strength within the broader market because they are above 50%. SPY is nearing a moment

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Market and ETF Report – Stocks, Bonds, Gold and the Euro Start Strong, Healthcare Lags, Energy ETFs Set Up (Premium)

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Stocks, bonds, the Euro and metals started the year with a bang. The S&P 500 SPDR (SPY) surged 2.3% on Friday and is up 1.42% year-to-date. The 20+ Yr Treasury Bond ETF is outperforming SPY with a 6.2% advance and the DB Base Metals ETF surged over

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Market and ETF Report – SPY Remains Bearish, Healthcare ETFs Outperforming, Energy ETFs Turn Mixed (Premium)

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Market/ETF Video – Bears are Back, Bonds Follow Stocks, Defensive ETFs Get Hit, Gold Battles 200-day (Premium)

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The Composite Breadth Model turned negative on Monday and the Market Regime is back to bearish. 2022 was year of the whipsaw for the CBM, but whipsaw periods are normal for trend following models and part of the overall process. AAA spreads

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Market and ETF Report – ETFs to Watch for Clues on the Broader Market, Intermarket Relations at Work Now (Premium)

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The weight of the evidence favors the bulls because the Composite Breadth Model is positive, but the stock market is as divided as ever. Today’s report will show three different ETF groups: the lead group holding support, the weak group

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