Market/ETF Video – Bear Market Broadens as %Above 200-day Sinks and New Lows Surge, Energy and Agriculture are Last Groups Standing  (Premium)

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Market/ETF Review and Outlook Video

The major index ETFs extended their downtrends with a vengeance over the last five trading days. It was a most exceptional period because almost everything declined the last five days – and I do mean everything. 52-week lows expanded within the stock market as new groups joined the bear market. Industrial metals followed stocks lower. Precious metals and Treasury bonds did not offer an alternative as they fell too. The only alternatives in uptrends are the Dollar, agricultural commodities and energy-related ETFs.

       Broad Market Notes

  • Composite Breadth Model Remains Bearish
  • %Above 200-day and High-Low Percent Indicators Plunge
  • BBB and CCC Spreads Show Stress in Credit Markets
  • Fed Balance Sheet Flatlines
  • Gold and Industrial Metals Break Down
  • DB Agriculture ETF Corrects within Uptrend
  • Dollar Surges to New Highs
  • TLT Extends Downtrend and Sinks to New Lows
  • Oil Edges Lower after 20% Gain Since mid May

      ETF Trends, Patterns and Setups:

  • A Slew of New Downtrend Signals (GLD, PALL, DBB, XLU, DVY)
  • Top ETFs are Energy Related – And Then Agriculture Commodities
  • 272 of 274 ETFs Fell the Last Five Days (CORN and UUP Rose)
  • SPY Hits Lower Line of Steeper Channel (steeper downtrend and oversold)
  • IWM and QQQ Hit New 52wk Lows
  • Eight Sectors with 52wk Closing Lows: XLK, XLY, XLF, XLI, XLC, XLV, XLB, XLRE
  • EW Consumer Discretionary and Housing ETFs Hit New Lows (RCD, ITB – plus XRT)
  • Tech-related ETFs Hit New Lows (IPAY, IGN, CIBR, FDN, IGV, SOXX)
  • Selling Pressure Expands to Utilities and Dividend ETF (XLU, DVY)
  • Materials Follow the Market Lower (XLB, RTM)
  • Failed Breakouts and Short-term Breakdowns (XLV, MOO, XME)
  • ATR Trailing Stop Triggers for Defense ETF (PPA)
  • Industrial Metals ETFs Follow Stocks Lower with Breakdowns (DBB, CPER, PALL, PLTM)
  • Oil Edges Lower as Energy ETFs Correct within Uptrends ($WTIC, XLE, XES, FCG)
  • Agricultural Commodities Correct within Uptrends (DBA, WEAT, JO, CANE)
Thanks for tuning in and have a great weekend!

-Arthur Hill, CMT
Choose a Strategy, Develop a Plan and Follow a Process

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