Weekend Video – Participation Broadens, Tech ETFs Getting Extended, Industrials Break Out, Copper ETFs Set Up (Premium)

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The bull market is clear and present with new highs in large-caps, large-cap techs, mid-caps and small-caps. Micro-caps are the only missing component, but IWC is very close. Participation continues to expand with breakouts in the Industrials SPDR, Infrastructure ETF and Home Construction ETF. We are also seeing strength in airlines (JETS), defense (ITA) and space (UFO). The copper-related ETFs did not partake in the recent advance, but they are setting up with pullbacks and uptrends. Gold is also going for a breakout as Silver and TLT break out of bull flags.

Trading Corrections: Identifying and trading the falling wedge.

Exit Strategies: Indicators, riding the trend, using the ATR Trailing Stop.  

Broad Market Notes

  • Composite Breadth Model Remains Bullish
  • Fed Balance Sheet Expands to New High
  • Yield Spreads Show No Signs of Stress
  • SPY and QQQ Extend to New Highs
  • Small and Micro Caps Join with Breakouts
  • S&P 1500 Breadth Shows Broadening Participation
  • 20+ Yr Treasury Bond ETF Breaks out of Flag
  • Treasury Yields are Confused as 20-yr Dips below 30-yr
  • Gold Goes for a Breakout (SLV Breaks Out of Flag)
  • Dollar Maintains Uptrend
  • Oil Becomes Oversold and Bounces

ETF Trends, Patterns and Setups:

  • More New Uptrend Signals (XBI, ITB, PBW)
  • New Highs and Leading: XLK, XLY
  • New Highs, Getting Extended: SOXX, IGV, CIBR, SKYY
  • Choppy Uptrends, Getting Extended: CARZ, DRIV, IDRV
  • Breaking Out of Big Corrections: XLI, IFRA, XLB, ITB
  • Working Higher after Sept/Oct Breakouts: KRE, KBE, KIE
  • Extending on Short-term Oct Breakout: XLV, IHI, XLRE, IYR, REZ, PHO
  • Biotechs Hit By Earnings: IBB and XBI
  • Short-term Oversold Setup: XLC, CPER, COPX, DBB, BDRY
  • Short Stall after Breakout Move: XLF and Energy ETFs
  • Longer Stall after Breakout Move: BETZ
  • Support Hold and Surge: ITA, JETS, UFO
  • Mid October Breakouts: QCLN, ICLN, TAN
  • Large Triangle and Breakout: PBJ, MOO
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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