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Weekend Video – SPY Leads, QQQ Surges, Housing and Industrials Hit New High, HERO and COPX Break Out (Premium)

The S&P 500 hit a new all time high this week and large-cap techs perked up with QQQ surging. Small-caps are lagging, but IWM is not really bearish. The Composite Breadth Model remains firmly bullish with the short-term indicators for the S&P 500 outpacing those in the S&P 1500. Yield spreads narrowed further this week, while the Fed balance sheet contracted a little.

Weekend Video and Chartbook – Flags and Zigzags, Big Week for XLP and XLU, Bullish Setups in 5 International ETFs (Premium)

Stocks perked up this week and we saw flag breakouts in several ETFs. Small-caps led the charge with IWM hitting a new high. QQQ even rebounded with a breakout, but is still lagging year-to-date. Strategically, the Composite Breadth Model remains in bull market mode. Tactically, the breakouts are holding and we will show how to monitor SPY and QQQ going forward. It was also a big week for Utilities and Consumer Staples,

Weekend Video and Chartbook – Split Market, S&P 1500 Breadth Signals, Short-term ETF Leaders, Treasury Yield Distractions (Premium)

Despite an increase in intraday volatility the last few weeks, the recent pullback is actually quite tame, especially for the Russell 2000 ETF and S&P 500 SPDR. QQQ bore the brunt of selling pressure and the Nasdaq 100 Breadth Thrust Model turned bearish. I am not concerned with this signal because the S&P 1500 Thrust Model remains bullish. Today’s video will show backtest results

Weekend Video, Chart Notes and ChartBook

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

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.

Weekend Video, Chart Notes and ChartBook

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.

Weekend Video, Chart Notes and ChartBook

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).

Weekend Video, Chart Notes and ChartBook

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.

Weekend Video, Chart Notes and ChartBook

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.

Weekend Video and ChartBook

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.

Weekend Video and ChartBook

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.

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