Slope of Hope Blog Posts
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Let’s take a look this weekend at some of the major ETFs and what they might be suggesting for the weeks ahead. I’m doing these in alphabetical order.
We begin with the triple-bullish-on-real-estate fund DRN, which has been on a tear for months. (Its less volatile brother, IYR, has been acting the same). This is kind of a fascinating chart, because it is precisely at the apex of its symmetric triangle. Of course, that doesn’t mean it tumbles into oblivion on Monday’s opening bell, but I would at least like you to note this “juncture”:
Having suffered its own private bear market for years, and being kicked out of the Dow Industrials, maybe poor General Electric is finally ready to get up off the mat, having bounced off $12.62 two times.
With every single asset moving higher today, I wanted to point out that the laggards overseas have an opportunity to catch up as well. Although their topping patterns are well-formed, there is ample upside until such time as those overhead supplies are met. Such as emerging markets: