The Oil & Gas Exploration & Production ETF (XOP) provides a case in point. On the chart below, notice how RSI surged above 70 in late November and exceeded 70 again in January

The Regional Bank ETF (KRE) and the 10-yr Treasury Yield are positively correlated and the recent surge in the 10-yr yield led to a breakout in the Regional Bank ETF.

The decline in the 10-yr yield is not the only factor at work in the markets, but there is clearly a correlation at work recently, especially with banks. The chart below shows

The Energy SPDR (XLE) is setting up to end its correction and resume its bigger uptrend. First and foremost, the long-term trend is up because

After leading the market into February 2020, tech-related ETFs were hit with strong selling pressure into March and extended their corrections into May. Large triangles formed in several and they broke out of these bullish continuation patterns

Traders interested in Treasury bonds, Treasury bond ETFs and yields would be better off ignoring Fed-speak and focusing on the charts. The bond market leads

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