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SPY continues on its stairway to higher prices with another new high this week. We are also seeing strength in mid-caps as MDY holds its breakout and new trend signals in small-caps (IJR and IWM). Breadth is not as strong as it used to be, but strong enough to support a bull market. Yield spreads show no signs of stress and the Fed balance sheet hit a new high. Within the ETF list, we are seeing new trend signals in several ETFs that were previously on the high-flyer list. We will test trend signals for the Clean Energy ETF (QCLN), show these on a long-term chart and analyze the structure of the price chart. Elsewhere, tech-related ETFs are leading and several old school groups are holding their breakouts. ETFs related to energy, copper and transports are the weakest.
Seasonal Patterns: Monthly and Best/Worst 6 Months (article/video)
Trading Corrections: Identifying and trading the falling wedge.
Exit Strategies: Indicators, riding the trend, using the ATR Trailing Stop.
Broad Market Notes
- SPY Channels to another New High (QQQ too)
- S&P 500 EW ETF Hits New High
- IWM and IJR Trigger Bullish on StochClose
- Composite Breadth Model Remains Bullish
- Yield Spreads Remain Low and Flat
- Feb Balance Sheet Expands a Fraction
- TLT Forms Bull Flag
- Gold Breaks Wedge Line
- Dollar Fails at Resistance (watch FXE, FXY)
- Oil Challenges Channel Line
ETF Highlights
- New Trend Signals on Ranking Table
- Residential REIT ETF Breaks to New High
- QCLN, ARK ETFs and New Uptrend Signals
- XLK, XLY, XLV, XLC and XLRE Lead Sectors
- XLF, XLI, IFRA and XLB Hold Breakouts
- XLE is the Weakest Sector by Far
- IGV, SOXX, FIVG, FDN, CIBR and SKYY Hit New Highs
- Housing ETFs Hold Breakouts
- Biotech ETF Extends on Wedge Breakout
- DB Base Metals ETF Challenges Triangle Resistance
- Steel ETFs Consolidate within Uptrends
- DB Agriculture ETF Holds Breakout
- Timber ETF Extends on Breakout
- EV ETFs in Choppy Uptrends