Here is a quick ETF review of the past week’s winners and losers from my High Volume ETF Master list:
The first win for the S&P 500 after 4 weeks of straight losses produced a reversal in the ETF leaders and laggards’ table.
The leaders of the past few weeks, namely FXF, TLT and GLD, experienced a sell off and slipped into the laggards’ column despite relatively minor losses. Equities gained this week, with new candidates moving into the leaders’ column.
Since this was only a one week reversal, it’s interesting to note that all leaders are sporting very low M-Indexes and, if you review Friday’s StatSheet, you will notice that all momentum numbers remain deeply in the red.
On the other hand, this week’s laggards still have better M-Index readings while their momentum numbers remain in far better shape than those of the leaders.
In other words, much more work to the upside is needed before any of the new candidates become viable investment material.
Disclosure: Holdings in GLD, TLT, FXF