Market-ETF Report – Gold, Silver and Miners Consolidate – Copper and Palladium Extend

The stock market advance broadened over the past week as more stocks crossed above their 200-day SMAs. Mid-caps caught a bid with IJH breaking its 200-day SMA. Small-caps also surged with IJR challenging its 200-day. We are also seeing flag/pennant breakouts in related groups (XLF, XLY, KBWB). Tech ETFs took a breather on

The majority of indicators remain bearish, but breadth continues to improve. First, the S&P 500 EW ETF joined SPY and QQQ with a close above the upper Bollinger Band (125,1) this week. Second, the percentage of S&P 500 stocks above their 200-day SMA exceeded 60% for the first time since February. Third, the other breadth indicators in the S&P 500

Large-caps and tech stocks continue to lead the market with SPY and QQQ notching new highs. The Technology SPDR, Communication Services SPDR and Industrials SPDR also hit new highs, and the Finance SPDR is not far off. The leaders consolidated in late May and broke out in early June. We then saw consolidations form in the next

ETFs related to commodities, bonds and crypto continue to feature prominently in the top twenty. In fact, 10 of the top 20 are related to these three groups. In a bull market, we typically see 15 or more equity ETFs in the top 20. This is because bull markets lift most equity-related boats. The table below highlights ten ETFs related to commodities, bonds and crypto (blue shading). Strength in these alternatives means

Stocks moved sharply higher the last two days with SPY surging 2% and gapping up on Tuesday. The Technology SPDR is leading the sector SPDRs with a gap-surge to new highs this week. Communication Services and Industrials are not far behind. Today’s video will follow up on the pennant/flag breakouts from early June and the Chandelier Exits. We also highlight some other flag/pennant formations. Elsewhere, commodity-related ETFs are pulling back and the Bitcoin ETF formed a bull flag. The 10-yr Treasury Yield broke down as the 7-10Yr TBond ETF broke out.

The weight of the evidence remains mixed. Of the 15 signals on the first three charts, five are bullish and ten are bearish. SPY and QQQ are in long-term uptrends and Nasdaq 100 breadth is net bullish, but S&P 500 and S&P 1500 breadth remain bearish. Mid-caps and small-caps are still dragging their feet. A Zweig Breadth Thrust triggered on April 24

Stocks shrugged off the events in the Middle East and rallied on Monday. Small-caps, Consumer Discretionary, Home Construction, Banks, Infrastructure and Transports led the way higher. These are largely cyclical groups and relative strength suggest that the advance may be broadening. It is still early days, but I am seeing lots of pennants forming from mid May to June. Breakouts would

Commodity, crypto and a few bond related ETFs are leading. Our ETF Ranking shows that 10 of the top 20 are related to these alternatives. Equity ETFs make up the other ten, but equity alternatives remain, well, serious alternatives. In particular, metals-related ETFs continue strong (gold, silver, platinum, uranium). The Platinum ETF (PLTM), however, looks dangerously

Nasdaq 100 stocks and QQQ are leading, but the weight of the evidence remains mixed for the broader market. After a big advance since early April, a pullback could be brewing as short-term bearish divergences take shape in S&P 500 breadth. We will cover the key breadth indicators, support levels for SPY/QQQ and the pennant breakouts in tech-related ETFs. Commodities remain strong with metals leading the way.

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Tech-related ETFs are leading in June as several broke out of pennants and extended higher. Today’s report will update these breakouts and their trailing stops. Despite continued strength in tech, I am seeing short-term underperformance emerge in mid-caps, finance, banks and consumer discretionary. These four are lagging the last 20 days because their respective ETFs have yet to clear their May highs.

Non-equity ETFs continue to perform well and feature in the top twenty. These include commodity, bond and crypto ETFs. This list expands when we include equity ETFs related to commodities, such as the Gold Miners ETF (GDX). GDX is part of the equity group because its components are stocks and stocks represent companies. This also applies to SIL, URA and BLOK. These ETFs are composed of stocks, not the underlying asset.

SPY and QQQ continued to lead the broader market higher, but MDY and IJR caught a bid with pennant breakouts this week. In fact, there are lots of pennant breakouts, especially in leading tech-related ETFs. We will cover these breakouts and show suggestions for trailing stops. Industrial and precious metals are leading the market with huge moves the last few weeks. Crypto is also perking up as IBIT breaks a flag line.

QQQ and Nasdaq 100 stocks continue to lead the market since the April low. QQQ extended higher and crossed the upper Bollinger Band on Wednesday for an uptrend signal. A breadth indicator also flipped bullish, which means the Nasdaq 100 indicator group is now net bullish (four of five). There are three indicator groups totaling 15 indicators. All indicators covering the S&P 500 and

SPY and QQQ continue to lead the market with leading breakouts in mid May. Small-caps surged over the last five days, but the S&P SmallCap 600 SPDR (IJR) remains below its falling 200-day SMA. IJR is also showing relative weakness. Despite strength and leadership in large-caps and large-cap techs, many are looking quite

Despite the stock market surge from early April to early June, only a handful of stock ETFs are outperforming alternative asset ETFs. Commodity and crypto related ETFs account for twelve of the twenty year-to-date leaders in the all-weather ETF list, which has 74 ETFs. The year-to-date percentage change (YTD %Chg) is perfect for measuring performance because is encompasses the stock market