Preface to all ETF posts this weekend: This is not a normal holiday weekend. Supposedly, when we return to the trading world Tuesday, there will be some resolution (or more chaos) regarding the debt ceiling. In the meanwhile, I have gathered together different families of ETFs for review, and I have stated my remarks in the caption area below each.
I would also like to note that, as a special this holiday weekend, I am giving away my Joy of Charting book, which I will ship to you free of charge for signing up at ANY subscription level. Just drop me a line when you subscribe to tell me where to send it. As an added bonus, I’ll also provide a copy of my Solid State audiobook for your listening pleasure, free of charge!
This is acting beautifully. It has been persistently repelled by the long-term trendline, in blue, and we broke below a multi-week trading range last week. It retraced back to its old range on Friday, and I am looking for this to resume its downward trajectory next week.The emerging markets bond fund is still above that old support line, and breaking below it would greatly increase the chances of overall equity weakness.Brazil is still forming a large right triangle pattern, and it has respected resistance in the form of the red trendline.China is in full break-down mode again, having slipped under crucial support last week.The “face-off” of worldwide equities seems to have resolved in favor of the bears, in spite of all the mayhem you witnessed on Thursday and Friday. The reaction to the debt deal, once it finally arrives, will tell the tale. If we start selling off, it could gain real momentum.
