Adios, Q2………

By -

Seriously, this quarter sucked out loud, (for the bears, at least, in case there are any left) and I’m glad it’s over. Here’s to a Q3 which resembles Q1 much closer than Q2. Honestly! Blech!

Quite plainly, all this breathless chatter about $170 billion in equities being dumped today for “re-balancing” didn’t mean dick.

Here are some quarterly charts of major ETFs:

Right up against the broken trendline
Bounce right up to the horizontal
Incredible strength, traversing the entire width of the channel
Pretty much undid the damage from Q1
Mirror image!
Another homebuilder fund with the same mirror image
Miners are really starting to rock! (Right on TNRev!)
Gold is looking great!
Silver is extremely close to a potential bullish trendline break
Semiconductors have been an important part of NASDAQ strength
Retail still in a broad downtrend, but it unwound the damage from Q1