ETF Analysis

ETF Trends, Patterns and Setups -Big Tech Gets Extended, Small-Growth Breaks Out, Copper ETFs Set Up, Telecom Pops (Premium)

SPY remains in a steady uptrend, QQQ is leading with a surge to new highs and the S&P SmallCap 600 SPDR (IJR) remains stuck in a consolidation. The deterioration in breadth is affecting mid-caps and small-caps, but not large-cap tech driven ETFs, such as SPY and QQQ. Small-caps, however, got a big bounce on Friday. I am not quite ready to call for a small-cap revival, but I am watching

Cannabis Attempts to Turn, Gold Finds Support, Timber Gets Very Oversold, Telecom Forms Bullish Setup (Premium)

Today we start with an up and coming industry group ETF (cannabis) and then turn to some commodity-related ETFs. Gold and silver were clobbered in June, but both are firming in potential reversals zones and warrant a watch going forward. The timber and copper ETFs were hit hard, but they are quite oversold within bigger …

Cannabis Attempts to Turn, Gold Finds Support, Timber Gets Very Oversold, Telecom Forms Bullish Setup (Premium) Read More »

ETF Trends, Patterns and Setups – Large-caps Alone at the Top, Long List of ETFs with Corrections (Premium)

The overall picture is bullish for stocks, but there are some “less strong” pockets. Large-caps are leading with SPY and QQQ hitting new highs in late June. Meanwhile, the Russell 2000 ETF remains below its March high, the S&P MidCap 400 SPDR peaked in late April and the S&P 500 EW ETF has been stuck in a triangle since mid May. The market is not firing on all cylinders, but the BIG cylinders are firing and this is why large-caps are leading.

Short and Long Term Yields Diverge, Junk Bonds Break Out, Water Holds Strong, MJ Tries to Bottom, Emerging Markets ETF Goes for Breakout (Premium)

Today’s commentary starts with Treasury yields by highlighting the divergence between short-term and long-term yields. We then look at the yield curve and its correlation with the Regional Bank ETF. Even though KRE has underperformed the last three months, it became quite oversold last week and got a bounce. We then turn to the breakout in the

Oil, Gold, Silver, Bonds and the Dollar (Premium)

This commentary will look at oil, gold, silver, bonds and the Dollar. I am sure that there are some intermarket narratives at work here, but I will try to stick with the price charts for a pure assessment. Oil is backing off of a massive resistance zone. Gold broke above the 200-day SMA as it extended its run and silver is challenging

JETS Shows Short-term Relative Strength, PSCD Breaks Out, ITA forms Bullish Continuation Pattern and EPOL Extends after Breakout (Premium)

A benchmark high/low is a price peak/trough that we can use to compare performance. ETFs that break above benchmark highs, such as the mid March highs, show relative strength. ETFs that fail to exceed these highs show relative weakness. ETFs that break below benchmark lows, such as the late April lows, show relative weakness. ETFs that hold these lows show relative strength.

ETF Trends, Patterns and Setups – Old Economy ETFs Lead, Tech ETFs Lag, Clean Energy Breakdown, Gold and Silver Hold Breakouts (Premium)

Old economy ETFs continue to lead. ETFs related to industrials, materials, metals, housing and finance hit new highs. These ETFs were already in uptrends and they were simply extending on their breakouts, which occurred in March or April. Even though they are leading and in strong uptrends, many are getting quite extended and ripe for a rest. This means they are in the trend-monitoring phase.

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