Fulsome Funds

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Greetings from the abandoned courtyard of the Computer History Museum. It is nighttime, and I’m by myself (since no one else is lunatic enough to be out here). In fact, I just remembered I actually did a video tour of this museum years ago. Lots of memories here!

Anyway, that’s not what this post is about. I just wanted to bang out a few words about some key ETFs in this nail-biter of a week.

First up is commodities, by way of DBC. We are mashed right up against the Andes Mountain Range of resistance. I think commodities overall are about to reverse lower, led by oil.

slopechart DBC

Equities have been a nauseating powerhouse lately, with the Dow Industrials up thousands of points in just a few days. We are near lifetime highs, although as of right now all we’ve done is bang out a series of (slightly) lower highs.

slopechart DIA

Precious metals miners hit it out of the park on Thursday. They had so much power, on strong volume, that they cracked their descending trendline.

slopechart GDX

Long-term, of course, I am wildly bullish on gold. Simply stated, I think the increasingly desperate United States, a country that has certainly peaked and is on its way down, will be printing up trillions of dollars every year to try to prop up this illusion of prosperity. In turn, the dollar is going to be ground into dust. Thus…………..gold!

slopechart GLD

The small caps have been explosive lately, but here again, all they’ve managed to accomplish is a “tag” of the underbelly of a critically important trendline.

slopechart IWM

The Mid-Caps are similar, and they have the other interesting feature of a nearly perfect price-gap-close.

slopechart MDY

Tech has been bananas lately, with some companies like Alphabet blowing to lifetime highs. The QQQ, which represents 100 companies, mostly in tech, has another “lower high” as well.

slopechart QQQ

The all-important SPYders did the exact same schtick – – a lower high. Perhaps Friday morning’s monthly jobs report will shake things up. One has to wonder if the figures are going to be a little more honest, now that the voting is done.

slopechart SPY

Lastly is the Industrial Sector which, like the Mid-Caps, has come right up against that beautiful price gap from last February.

slopechart XLI

This has been an absolute grind of a week, on multiple fronts. Hang in there, folks. It’s almost over! (And that, too, applies on multiple fronts).