Going through my ETF list I noticed that quite a few (mid-cap, Russell, SP growth, value, even QQQQ) have either made rounding bottoms from Wednesday's tail or are in the process of making one. This list is sorted by the difference between 13 and 50 EMA's, strongest in the list are at the top. (Forget EW, it is not an ETF). The money flow and OBV have not given up on this pullback.
At least, this looks to be an encouraging setup off of 50 MA. Rounding bottoms are more reliable than V-bottoms.
ttrader.com\'s%20charts&id=879&d=2
Of course, the rally can fail at the double top or form a right shoulder and that should be a short signal.
Check out EWJ, EWM, EWY, EWW, IYC, XLY, EEM, IWR(POSTED), IWP, IWS, IVE, IWD, EWZ, IWB, RSP, IWW, IBB, MDY, IJJ, IDU, XLU, IWV, VXF, IJT, IWO, IJR, IWM, IWN.
Patience. |
