Weekend Video – SPY and QQQ Lead, IWM Cup Half Full, Metals Break Out, Emerging Markets ETFs Turns (Premium)

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!

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

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