Below are ten ETFs. In the caption for each, I’ve made some remarks. As always, click on any chart for a screen-filling version of it.
Cathie’s wreck of a fund did a perfect gap fill today. Just perfect. Hopefully, this is it.Commodities have a new gap, and I suspect we’re going to see weakness start to latch in.There are two gaps, just like every other financial instrument on the planet, neither of which has been filled yet. And they may never be filled. I got out of this long yesterday (very intentionally, and very consciously too soon). There’s absolutely an opportunity for it to go higher. Whether zero, one, or two gaps or filled, I have every confidence it won’t matter in the end.The small caps are stuck at precisely the Fibonacci Retracement level. If I can have a vote, I’d like it to break to the downside. Thanks.Real estate has almost sealed its gap up. This is a key item to watch for the market overall.The S&P 100 fund is almost very close to its price gap, and it’s done a bit of damage to its long-term supporting trendline.This is the granddaddy of them all, of course. Same deal. Two gaps. Will either be filled? God knows. Maybe even he doesn’t. Won’t matter.As I predicted repeatedly, energy was hosed. The peak is in. The fact that government nimrods are running around screeching about what to do just proves the point. The peak is past. Crude oil is going to be in a bear market for a long time.Energy stocks are either going to bounce since they are so oversold, or the fracture of the trendline simply illustrates energy stocks are so weak that they’re going to go into a free-fall. I took profits on most energy positions, so that pretty much guarantees the free-fall scenario.
