QQQ and the tech-related ETFs triggered flag breakouts last week and these breakouts were challenged with a pullback this week. Some breakouts failed (IGV) and some are at their moment of truth (IPAY). Today’s video focuses on trailing stops and breakout zones for several of these. We will also cover the secular downtrend in oil, review the market regime page and show the StochClose leaders. Within the ETF chartbook, the Healthcare SPDR (XLV) and Medical Devices ETF (IHI) could be poised for breakouts, while the Biotech ETF (IBB) and Biotech SPDR (XBI) show strong breakouts.
Weekend Video – QQQ Pullback, Flag Breakouts Under Threat, Secular Downtrend in Oil, Healthcare ETFs Strengthen (Premium)
Thanks for tuning in and have a great weekend!
-Arthur Hill, CMT
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