After getting derailed with a curve ball on Tuesday, the bulls rebounded stocks ended the week on a high note. Again, a wide array of ETFs recorded fresh 52-week highs and there are plenty of strong groups in the stock market. This week we are seeing a possible return to growth, clean energy and China. These bullet points also represent the order of play.
- SPY and QQQ Remain with Solid Uptrends
- The Noose Tightens for IWM
- Oil Stalls Near Long-term Resistance
Bonds Bounce, Dollar Weakens and Gold Holds Breakout - Spreads Remain Narrow as Balance Sheet Hits New High
- 90% of S&P 500 Stocks above 100, 150 and 200 Day SMAs
- StochClose Rankings, Signals and New Highs
- Finding Oversold Conditions with High StochClose Values
ETF Chart Highlights
- Discretionary and Industrials Run with Defensive Sectors
- Large-caps and Commodities Lead Small-caps and Bonds
- Trend-monitoring Phase for SPY and QQQ
- Bollinger Band Squeeze for IJR
- Russell 2000 Growth and QQQJ Exceed Benchmark Highs
- XLE and XES Retrace Half with Falling Wedges
- SOXX Becomes Oversold after Dip
- SKYY, FDN, CIBR and HERO Bounce off Breakout Zones
- KRE and KBE Surge off Support
- JETS Corrects with Wedge and Retracement
- FAN and ICLN Lead Clean Energy with Breakouts
- IBB Holds Breakout – IHI and IHF Hit New Highs
- Copper Complex Remains Strong
- XME forms Bullish Consolidation
- URA Firms with RSI Oversold
- BETZ Forms Bullish Consolidation with Uptrend
- China Comes to Life (FXI, ASHR)
Thanks for tuning in and have a great weekend!