Weekend Video and Chartbook – Breakouts and New Highs Proliferate, Bonds and Gold Get Slammed, ETF Ranking Table
The post-breakout moves in SPY and QQQ look pretty normal, but the 10-week surge in the Russell 2000 ETF looks downright frothy. What else is new. Even so, two S&P 500 medium-term breadth indicators are holding strong and show no signs of deterioration that would suggest a correction. In the ETF Chartbook, we saw lots of consolidation breakouts this week and new highs (closing prices) in seven of the nine sector SPDRs. Bonds took it personal this week as the TLT fell 4%,