Major Market ETFs Move Sideways

Despite a nice start to the upside, the major markets ETFs got stuck stuck and went nowhere after meandering around the unchanged line all day.

In accordance with our sell stop discipline, we sold VEU, which affected several of our model portfolios, as you will see with the next report due out on Wednesday. A few selected mutual funds were liquidated as well.

Our International Trend Tracking Index (TTI) improved slightly but still remained below its long term trend line by -0.64%.

As I posted Friday, I will not issue an all-out sell signal until this indicator clearly stays below the trend line. By holding out a few extra days, I am hoping to avoid a potential whip-saw signal, should the markets suddenly return to rally mode.

The domestic TTI slipped a little but remains at +2.00%.

Stay tuned for further updates.

About Ulli Niemann

Ulli Niemann is the publisher of "The ETF Bully" and is a Registered Investment Advisor. Learn more
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