Here is a quick ETF review of the past week’s winners and losers from my High Volume ETF Master list:
While the past week produced increased volatility, the S&P 500 closed barely changed from the prior Friday.
Nevertheless, the sharp rebound during the first two trading days had an effect on the Leaders and Laggards listings, as some of our old favorites were replaced by several country ETFs that took top billing—at least for this moment in time.
BRF, EWZ, EZA and ECH were some of the leaders this week; however, their negative M-Index figures clearly indicate that more upside momentum is needed to make sure that this move was not just temporary.
On the Laggards side, things look weak as well, as the M-Indexes are deeply entrenched in bearish territory.
As I have posted repeatedly, given the current state of affairs, being on the sidelines or in hedged positions is the most sensible investment approach, until the major trends and more positive momentum figures point to a different and improved environment.
Disclosure: No Holdings in ETFs discussed