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.