ETF Tracker StatSheet
SLIDING INTO THE WEEKEND
- Moving the markets
A follow through rally ran into resistance today and slowly but surely petered out with S&P 500 and Nasdaq sliding into the red for the session, while the Dow managed to hang on to a modest gain, which was enough to set another record high. Adding a bit uncertainty was the fact that today was quadruple witching day, along with a massive index reclassification, which caused an increase in volume to a level last seen in July of 2010.
The tech sector was the laggard with technology and internet components creating the drag and pulling the Nasdaq down by -0.51%. That turned out to be a break even for the week, while the Dow and S&P 500 added +2.1% and +1.1% respectively. Of course, given Thursday’s impressive advance across the board, it came as no surprise that a “pause” was coming.
The US Dollar continued heading south and coming off its August highs. It has now seen its biggest 2-week drop since January, which helped the Emerging Markets currencies to have their best week since February with the Argentine Peso showing signs of life and soaring.
Looking at the global picture, it confirms what I have been saying for a while, which is that the US market, compared to the rest of the world, is the place to be invested in. This chart makes it abundantly clear.
- 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 -8% point has been taken out in the “Off High” column. For more volatile sector ETFs, the trigger point is -10%.
- Trend Tracking Indexes (TTIs)
Our Trend Tracking Indexes (TTIs) were mixed with the Domestic one slipping and the International one rallying.
Here’s how we closed 09/21/2018:
Domestic TTI: +5.85% above its M/A (last close +6.01%)—Buy signal effective 4/4/2016
International TTI: +2.29% above its M/A (last close +1.98%)—Buy signal effective 7/26/2018
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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