ETF Tracker Newsletter For February 24, 2017

ETF Tracker StatSheet

http://www.theetfbully.com/?p=18573&preview=true

Last Hour Buying Pushes Dow To 11th Record In A Row

[Chart courtesy of MarketWatch.com]

  1. Moving the Markets

I simply had to laugh out loud when I saw the above chart right after the close. The indexes had spent all day below the unchanged line and it looked like a down day was in the making. The Dow was in danger of seeing its 10 day record streak come to an end when, with only 17 seconds left, as if by magic, sudden buying pushed the index barely into the green and to its 11th record close in a row, its longest streak in 30 years.

Of course, we all know that in this “new normal” stock market nirvana, markets are no longer allowed to close red into the weekend. Seeing this obvious manipulation, as the algos continued to play financial ping-pong, I just can’t help being facetious about it…

In the bigger picture, the Dow has now closed up 3 weeks in a row, the S&P 500 and Nasdaq had their 5th up week in a row, but Small Caps did not fare so well and saw their biggest weekly pullback in 5 weeks. Hat tip goes to ZH for some of these stats.

The tech sector suffered its biggest decline of the year, financials had their worst day in 5 weeks, and the Big Banks were all red on the week. Bonds were up for the 5th day in a row as yields dropped and precious metals were the leaders with Gold reclaiming its $1,250 level, while Silver has been up now for 9 weeks in a row and has conquered its 200 DMA, a sign of strong upward momentum. The dollar slipped, which was its 7th weekly drop out of the last 9.

  1. ETFs in the Spotlight (updated for 2017)

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 in regards to 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 the 2017 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.

  1. Trend Tracking Indexes (TTIs)

Our Trend Tracking Indexes (TTIs) were mixed with the Domestic one holding steady while the International one gave back some of its recent gains.

Here’s how we closed 2/24/2017:

Domestic TTI: +2.95% (last close +2.97%)—Buy signal effective 4/4/2016

International TTI: +5.03% (last close +5.71%)—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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READER Q & A FOR THE WEEK

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About Ulli Niemann

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