ETF Tracker StatSheet
[Chart courtesy of MarketWatch.com]
- Moving the markets
Despite a weak opening, the major indexes managed to gain some footing and climb above the unchanged line to close in the green. This performance was their strongest week in a quarter assisted by the biggest short squeeze in 4 months along with a low VIX.
Since the start of April, according to ZeroHedge, the “most shorted stocks” have dramatically outperformed the S&P 500, while the FANG stocks traded leadership roles with the financials.
I recently referred to this as climbing a wall of worry and today was no different, as tensions between the U.S. and their major allies escalated ahead of this weekend’s G7 meeting in Canada.
I was not surprised to hear that the disparity in views is so stark that this gettogether has also been referred to as G6+1. It’s politics of pretense with one author quipping “The status quo is the problem, but it can’t be touched.”
Bond yields had a wild week of their own with the 10-year attempting to break through the 3% level, but it fell short as a flash-crash pushed yields sharply lower. In the end, we closed at 2.93%, unchanged from yesterday.
The focus right now will be on the G6+1 meeting with anxiety being high to see if any agreements can be reached. If not, there is hope that at least a joint statement will make headlines.
Next week, it will be business as usual with Italian/Argentinian banking issues, along with Deutsche Bank’s attempt to find a lifeline, being front and center.
- 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 and sector ETFs from my HighVolume list as posted every Saturday. 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.
The below table simply demonstrates the magnitude with which some of the ETFs are fluctuating regarding 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.
For hundreds of ETF choices, be sure to reference Thursday’s StatSheet.
Year to date, here’s how our candidates have fared so far:
Again, the %M/A column above shows the position of the various ETFs in relation to their respective long-term trend lines, while the trailing sell stops are being tracked 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.
- Trend Tracking Indexes (TTIs)
Our Trend Tracking Indexes (TTIs) slipped a tad as the major indexes rallied.
Here’s how we closed 06/08/2018:
Domestic TTI: +2.65% above its M/A (last close +2.68%)—Buy signal effective 4/4/2016
International TTI: +1.62% below its M/A (last close +2.00%)—Buy signal effective 7/19/2016
Disclosure: I am obliged to inform you that I, as well as my advisory clients, own some of the ETFs listed in the above table. 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.
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