ETFs Under The Tropic Sun
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Here are ten ETFs worthy of a few words this Memorial Day weekend.
small caps IWM continue to sport a fantastic top, creating a parallel with the top several years ago.
tech stocks QQQ raced toward their broken trendline and are now backing off; the big test is whether it can push below the dashed green line (the China surrender gap)
silver has a real chance of performing a hearty breakout, which is why I’ve established a large long position in SLV.
the semiconductor index SMH has been sputtering for the past ten months, and in spite of the mega-rally that started on April 7th, the series of lower highs is still intact
the S&P 500 ETF SPY seems to have completed its counter-trend thrust, so that dashed red line needs to remain unviolated to give the bears a prayer.
as I’ve written at length recently, bonds TLT could be serious trouble if it breaks below that pink zone
oil’s USO failed right triangle pattern is perfectly intact, and what I’d like to see is crude oil swoon lower next week, creating some distance between price and the triangle’s lower trendline
homebuilders XHB continue to slowly bleed out
the materials sector XLB is sporting an excellent diamond reversal top plus it has a broken trendline working in the bears’ favor
lastly, the oil producers XOP fund has one of the most potent bearish patterns of any ETF that’s trading
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