Weekend Video – QQQ Joins SPY with New High, Yield Spreads Narrow, Oil Hits Resistance and ETF Charts (Premium)

Equity-related ETFs continued strong this week with large-cap techs leading the way here in April. SPY also hit a new high, but small-caps are lagging as IWM stalls. Bank and energy related ETFs are also dragging their feet a little. Relative weakness is not a concern because IWM, KRE and XES were very extended and ripe for a rest. Today’s video is divided into two parts. First, we cover the broad market and oil. Second, we cover a wide array of ETFs. The bullet points below show the order of play.

  • New Highs for QQQ and SPY as IWM Lags
  • Yield Spreads Hit New Lows
  • Energy Off My Radar as Oil Hits Long-term Resistance
  • 90% of S&P 500 Stocks above Long-term SMAs
  • StochClose Whipsaw Signals and Big Moves (IGV, SIL)
  • New Highs for a Wide Array of ETFs
  • Strong Flag Follow through for XLK, XLY and Others
  • Small Large Divide: IGV/XSD, SOXX /XSD, IBB/XBI
  • Pennant Breakout for XLV – Strength in IHF and IHI
  • FDN, IGV and SKYY Clear Mid March Highs
  • CIBR holds Flag Breakout
  • Watch April 1-2 Highs for IBB, PBW, ARKG, ARKK
  • Consolidation Breakouts for CARZ, DRIV and IDRV
  • Triangle Consolidation for MJ and YOLO
  • KRE Drags its Feet along with Small-caps
  • RSI Bullish Failure Swing in GLD and SIL Support
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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