Weekend Video – Participation Wanes, but Low Vol and Key Indicators Support Uptrend as Money Rotates

Today’s video starts with the medium-term indicators and the overall trends for the S&P 500 SPDR, S&P 500 EW ETF, S&P MidCap 400 SPDR and Russell 2000 ETF. These are the broadest index ETFs out there and money moved into mid-caps and small-caps this week. The advance since April is marked by falling volatility and we will look at two indicators to monitor volatility. The S&P 500 breadth model improved with two new signals, but the small-cap and mid-cap models remain bearish. Even so, MDY and IJR are in medium-term uptrends and extended on their mid July breakouts. We will focus on the Healthcare sector this week and the top four stocks. Analysis of the core ETF list begins with the StochClose ranking tables and then covers the charts, which are organized by chart strength and chart patterns. And finally, we review the Fed balance sheet and yield spreads.