Complimentary Articles and Analysis
SPY experienced its biggest weekly decline (-2.2%) since late February and the nine-week Rate-of-Change turned negative for the first time since late October. The ETF also closed below its 10-day SMA for the first time since late January. Normally, a close or dip below the 10-week
The 5G Next Generation ETF (FIVG) is taking the lead within the tech space as it breaks out of a bullish continuation pattern. FIVG is leading because it recorded a new high here in early June. Not very many tech-related ETFs hit new highs here in early June and this makes it relatively easy to separate the leaders from the laggards.
Some of the old Ford and GM cars can still rev their engines, but the sound of a revving engine could go the way of the dodo. Perhaps, I should say that the price chart for the Global Auto ETF (CARZ) is revving its engine and poised for a breakout.
The Gold SPDR (GLD) crossed above its 200-day EMA in early May and its 200-day SMA this past week. Both signals are “bullish” and point to a long-term uptrend, but tell us little regarding realistic expectations going forward. To get a better understanding, we need
The Cybersecurity ETF (CIBR) was hit with the rest of the tech sector over the last few weeks, but it held the March lows and is on my radar as a possible triangle forms over the last few months. In particular, I am watching
The S&P 500 SPDR hit a new high last week, but it was alone at the top because several other major index ETFs did not confirm. In fact, these non-confirmations have been building since March as fewer groups participated. Of note, several tech-related ETFs peaked in
The Regional Bank ETF pattern over the last few months is similar to that of the S&P SmallCap 600 SPDR and Russell 2000 ETF. This is not surprising because the financial services sector accounts for 17.8% of IJR and 16.34% of IWM, and is the second biggest sector for both
The long-term trend for the Semiconductor ETF (SMH) remains up, but the ETF is coming under some selling pressure and underperforming the broader market. While this is not enough reason to turn long-term bearish, it does increase the odds of corrective period in the coming weeks.
The S&P SmallCap 600 SPDR (IJR) and Russell 2000 ETF (IWM) are lagging the market, but they are still in uptrends and the noose is tightening. Today we will look at the volatility contraction in IJR and the loss of trend in IWM