The pickings are reasonably slim out there with simply 61 of the 276 ETFs within the TrendInvestorPro Grasp Record in uptrends. Unsurprisingly, a lot of the ETFs in uptrends are associated to commodities (power, metals, agriculture). Exterior of commodities, we’re seeing uptrends in ETFs associated to shopper staples, utilities, aerospace-defense, agribusiness, infrastructure, metal and banks.
The Silver ETF (SLV) is among the commodity ETFs in an uptrend and its uptrend sign is reasonably latest (as of February twenty fourth). As well as, the chart sports activities a big Double Backside and the ETF is difficult resistance. The inexperienced zone reveals two lows within the 20 space and the purple zone marks resistance from the November excessive. A breakout, which is occurring proper now, would affirm the sample and goal a transfer to new highs.
The underside window reveals the Development Composite with three indicators within the final two years (purple/inexperienced arrows). Development indicators won’t ever catch the precise backside or high, however they will revenue from the center when a pattern takes maintain. The Development Composite is now at +5, which implies all 5 indicators are on bullish indicators. You possibly can study in regards to the Development Composite right here.
This week’s Subsequent Stage Charting video (right here) coated broad market situations, the technical image for SPY, QQQ and IJR, in addition to some large breakouts in ETFs associated to metal, aerospace-defense and agriculture.
TrendInvestorPro focuses on ETFs with uptrends and main charts. As soon as the pattern is in place, we monitor the charts for pullbacks and entry alternatives. Click on right here to study extra and acquire speedy entry.
The Development Composite is one in all 11 indicators within the TrendInvestorPro Indicator Edge Plugin for StockCharts ACP. Different indicators embrace the Momentum Composite and ATR Trailing Cease. Click on right here to study extra.
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Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic method of figuring out pattern, discovering indicators throughout the pattern, and setting key value ranges has made him an esteemed market technician. Arthur has written articles for quite a few monetary publications together with Barrons and Shares & Commodities Journal. Along with his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Enterprise Faculty at Metropolis College in London.
