The next report will be on Thursday, May 1st
Today’s video starts with the long-term trend and breadth indicators to define the broad market environment. We then turn to the Zweig Breadth Thrust and show the key SPY levels to watch going forward. Stocks are all over the place in April, but a handful of leaders emerged with uptrends, relative strength and breakouts. Elsewhere, the Bitcoin ETF extended on its breakout and GLD is still looking extended.
See today’s Market Regime update [1] for long-term breadth charts and a ZBT update.
Report/Video Headlines
Broad Market Analysis
- Weight of Evidence Remains Bearish
- Zweig Breadth Thrust and Keltner Update
- TLT Falls Back after Early April Breakout Surge
Equity ETF Charts
- Hitting Resistance from Broken Support (XLC, XLK, XLI, SMH)
- Resistance-Reversal Zones Coming into Play (SPY, QQQ)
- Breakouts and Relative Strength (ITA, CIBR, ARKF, IHI)
- Recapturing Support Breaks and 200-day (IYZ, XLF)
- Falling Channels, but Relative Strength (XLP, XLU, KIE)
Alternative Asset ETFs
- Price and RSI Breakouts for Bitcoin ETF
- DB Agriculture ETF Breaks Wedge Line
- Natural Gas ETFs Reverses at 200-day SMA
- Gold SPDR Pulls Back After Surge
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Thanks for tuning in and have a great day!