SPY hit yet another new high, nine sector SPDRs hit new highs and the breadth indicators show broad strength within this large-cap benchmark. QQQ also hit a new high as large-cap techs extended their rebound. Small-caps and small-cap growth remain the laggards, but their cups are still half full. Today’s video covers a lot so I will just let the bullet points do the talking. These bullet points also represent the order of play.
- SPY and QQQ Hit New Highs as IWM Consolidates
- Dollar Turns Down as Euro Turns Up
- 20+ Yr Treasury Bond ETF Gets Oversold Bounce
- Yield Spreads Remain Narrow as Balance Sheet Expands
- 90% of S&P 500 Stocks above 50, 100, 150 and 200 Day SMAs
- StochClose Rankings, Signals and New Highs
- Finding Oversold Conditions with High StochClose Values
ETF Chart Highlights
- 3 ATR Trailing Stops for SPY
- IWM, IWO, QQQJ Hold Short-term Breakouts
- 9 Sector SPDRs Hit New Highs
- Oil Surges, but Descending Triangles for XLE/XES
- SOXX Forms High and Tight Flag
- IGV, SKYY, FDN, CIBR and HERO Hold above Mid March Highs
- IPAY Leads Tech with New High
- ITB Leads Consumer Discretionary with New High
- KRE and KBE Stall with Cup Half Full
- FAN forms Flag as ICLN Outperforms PBW
- IBB Goes for a Breakout
- DBB and COPX Break Out
- All ARKs are Below mid March Highs
- PHO Extends on Breakout
- CARZ, DRIV and IDRV Break Out of Consolidations
- Gold and Silver Break Out – Plus GDX
- Japan, Brazil, Emerging and Europe ETFs
Bob Marley and Ed Seykota walk into a bar….The result?
3 Little Birds for Trend-Followers.
Thanks for tuning in and have a great weekend!