Weekend Video – QQQ Holds Breakout, Bullish Seasonal Patterns, Housing, Industrials and Materials ETF Hit New Highs (Premium)

Today’s video starts with the corrections in QQQ and IWM, and the resilience in SPY. Techs started the corrective process and small-caps joined this week, but large-caps in the S&P 500 remain immune. Nevertheless, QQQ has a flag breakout working and shows some short-term relative strength. Stocks could find another wind from two bullish seasonal patterns (turn of month and monthly). There are still quite a few oversold setups on the ETF Ranking Table and a few new downtrends in some Chinese ETFs. Within the ETF charts, we are seeing strength in semis, housing, industrials and materials. Healthcare came to life this week as the Healthcare SPDR and Medical Devices ETF broke out. Today’s video will also highlight the “Double W” reversal using price and RSI.

Thanks for tuning in and have a great weekend!

-Arthur Hill, CMT
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