1. Moving the Markets
It was nice start to a continuation of the current upward momentum but, while the S&P 500 fell back later on, the Dow managed its 37th record close of 2014.
It was a Holiday shortened session on extreme light volume, so not much should be read into today’s action. Helping the indexes was a steeper than expected drop in weekly jobless claims following the recent surprisingly strong GDP report, which received a boost due to seasonal adjustments.
4 of our 10 ETFs in the Spotlight closed up with 2 of them making new highs as table 3 below shows.
2. ETFs in the Spotlight
In case you missed the announcement and description of this section, you can read it here again.
It features 10 broadly diversified ETFs from my HighVolume list as posted every Monday. Furthermore, they are screened for the lowest MaxDD% number meaning they have been showing better resistance to temporary sell offs than all others over the past year.
Here are the 10 candidates:
The above table simply demonstrates the magnitude with which some of the ETFs are fluctuating in regards to their positions above or below their respective individual trend lines (%M/A). A break below, represented by a negative number, shows weakness, while a break above, represented by a positive percentage, shows strength.
Year to date, here’s how the above candidates have fared so far:
Again, the first table above shows the position of the various ETFs in relation to their respective long term trend lines (%M/A), while the second one tracks their trailing sell stops in the “Off High” column. The “Action” column will signal a “Sell” once the -7.5% point has been taken out in the “Off High” column.
3. Trend Tracking Indexes (TTIs)
Our Trend Tracking Indexes (TTIs) edged up a tad in this Holiday shortened session and ended as follows:
Domestic TTI: +3.26% (last close +3.24%)—Buy signal since 10/22/2014
International TTI: +0.28% (last close +0.09%)—New Sell signal effective 12/15/14
Disclosure: I am obliged to inform you that I, as well as advisory clients of mine, own some of these listed ETFs. Furthermore, they do not represent a specific investment recommendation for you, they merely show which ETFs from the universe I track are falling within the guidelines specified.Contact Ulli