ETF Tracker StatSheet
A SLIPPERY WEEK
[Chart courtesy of MarketWatch.com]
- Moving the Markets
Last week’s upward momentum slowed, and the major indexes limped lower, although by a modest amount with the S&P 500 surrendering -0.65%. All eyes were on hurricane Irma, which threatens to make landfall in Florida sometime this weekend, and it is considered to be a “life-threatening situation.” Not helping matters was rumbling about cancelling the debt ceiling altogether and more news about “evil” N. Korean intentions.
For equity ETFs it was a mixed day, as the Nasdaq pulled back the most causing Semiconductors (SMH) to lose -1.08%. Emerging Markets (SCHE) occupied second place with -0.59%. Ending up in the green, not just for the day but also for the week, were Transportations (IYT) with +0.40% and MidCaps (SCHM) with +0.25%. Most others hovered around their respective unchanged lines by small percentages either above or below it.
Financials (XLF) were the loser of the week with a break to the downside of their widely followed moving averages (50-day, 100-day and 200-day). The VIX rose on a weekly basis for the first time in a month but was bound to a very narrow trading range.
Interest rates continued their southerly path for the week, but the 10-year yield bounced 1 basis point today to close at 2.06%. It sure looks like the 2% level might be taken out fairly quickly, which is quite a reversal from the highs of 2.60% last December when the Trump bump had shifted into high gear.
And then there is the US Dollar index (UUP), which continued its race to the downside matching the price from December 2014. YTD, it has lost an astonishing -11.6%.
- 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.
- Trend Tracking Indexes (TTIs)
Our Trend Tracking Indexes (TTIs) slipped a tad as upward momentum was noticeably absent this week.
Here’s how we closed 9/8/2017:
Domestic TTI: +2.46% (last close +2.70%)—Buy signal effective 4/4/2016
International TTI: +6.29% (last close +6.49%)—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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