Only three of the sixty ETFs in the core list advanced this week: AGG, TLT and LQD (bonds). Everything else declined, but the biotech ETFs (IBB and XBI) declined the least of the common stock ETFs. The banking and insurance ETFs (KRE, KBE, KIE) led the way lower with the banking ETFs hitting 52-week lows.
Weekend Video, Chart Notes and ChartBook Update ETF Chart Notes for Saturday, February 22nd * These chart notes are also in the ChartBook PDF file (link above) New 52-week Highs (during the week – unadjusted data) Major Index ETFs: SPY, RSP, MDY, QQQ, MTUM, USMV Sector SPDRs: XLK, XLY, XLC, XLP, XLU, XLRE Equal-Weight Sectors: …
Stocks moved sharply higher for the second straight week with broad participation. RSP, SPY and QQQ recorded 52-week highs, 8 of the 11 sector SPDRs recorded new highs and 8 of the 11 equal-weight sector ETFs hit new highs.
Stocks are still looking overextended and ripe for a rest. SPY formed three outsized weekly candles, the tallest since the advance began, over the last five weeks. In addition, the weekly gain/loss was well above average for three of the last five weeks.
The stock market took a hit this week as money rotated into safe-have assets, such as bonds. Gold also moved higher and hit a 52-week high on Friday. It looks like a correction has started in the stock market as SPY confirmed its weekly harami and the short-term indicators trigger bearish.
The market turned seriously defensive this week with bond ETFs, precious metals related ETFs, Utilities and REITs leading. We saw wedge breakouts in GLD and GDX around Christmas
Once again, we are seeing broad strength in the Technology sector. Tech is not the only strong sector as three other sectors recorded hat tricks with new highs in the SPDR, the equal-weight sector ETF and small-cap sector ETF (Technology, Consumer Discretionary, Healthcare and Industrials).
SPY hit a new high for the week and gained 1.02%, which is not considered an outsized advance for one week. The weekly gain exceeded 2% twice in January 2018 and these were outsized advances.
There were plenty of 52-week highs this week. SPY (large-caps), QQQ (large-cap techs), MDY (mid-caps) and IJR (small-caps) hit new highs. Five of the eleven sector SPDRs hit new highs this week, while just two equal-weight sectors hit new highs.
As you can see from the lists above, there were plenty of 52-week highs this week. SPY (large-caps), QQQ (large-cap techs), MDY (mid-caps) and IWM (small-caps) hit new highs. Six of the eleven sector SPDRs hit new highs this week, while seven equal-weight sectors hit new highs.
This week’s video will cover the 60 core ETFs and the short-term trend for SPY. There were 21 new highs in our core list and this shows broad strength in the stock market.
This week’s video will cover the 60 core ETFs, the short-term trend for SPY and some events that could shake the market in the coming weeks. There were more new highs, a materials-related ETF broke out, gold failed and bonds backed off resistance.
This post features the weekend video that walks you through the the 60 ETFs in the core chart list. I also example on the daily S&P 500 chart and the indicators used to define the short-term uptrend.
This post features chart notes on recent developments in our core ETF list, an update to the ETF ChartBook and a video covering all 60 core ETFs. Today I am singling out four ETFs to watch closely because they look poised to move.
Today we have a mixed of old and new. Some setups from prior weeks are still in play and near their breakout zones. Four of these are in the Healthcare sector, which is the hottest sector in the market right now.
This post features chart notes on recent developments in our core ETF list, an update to the ETF ChartBook and a video covering all 60 core ETFs. Today’s video also shows what to watch for the short-term uptrend and covers oil.
This post features chart notes on recent developments in our core ETF list, an update to the ETF ChartBook and a video covering all 60 core ETFs. Note that the video also covers some of the key charts from Friday’s commentary.
There were several new highs, and even a few all time highs, this week as stocks extended their October run into early November. This post features some ETF chart notes, an update to the ETF ChartBook and a video covering all 60 core ETFs.