Strange Bedfellows

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I did an unusual experiment today that I wanted to share with you. It’s the kind of goofy side project a data weirdo like me does when an idea pops into his head while taking out the trash.

I punched in a couple of dozen big ETFs and created a matrix of them in Excel using the CONCATENATE function.


I then went into SlopeCharts and loaded every single combination (there were over 500). I then – – and this was the time-consuming part, but I do love my Slopers – – I looked at every single chart to find any that I found to be interesting. There were maybe ten. And here they are (as a side note, my extra-beloved Gold and Diamond members can see my customized symbols by subscribing to the “Pairs” watch list via their own SlopeCharts subscription).

Click on any image for a much larger version. I’ve highlighted what I consider to be the key reversal patterns and, in the last chart, the long-term range. Fascinating stuff, I think.

slopechart DIA QQQ
Illustrates how the NASDAQ has been outperforming for the past 18 years
slopechart EEM GDXJ
Emerging markets versus junior miners: a tumble is coming! (I assume)
slopechart GDX XME
Precious metals miners versus “regular” miners
slopechart GDXJ EEM
Junior precious metals miners about to rally versus emerging markets
slopechart SMH SPY
Semiconductors formed a huge saucer and went on to trounce the S&P 500
slopechart XOP USO
Oil producers falling to pieces compared to crude oil
slopechart XME GDX
The relationship between the mining group and precious metals miners seems rather cyclic