Happy Monday, everyone. There are just eight trading days left after today in the lovely, lovely year of 2023. I wanted to touch on three ETFs that had been covered over the weekend. First off, there is commodities (DBC) which I suggested would be in for a tumble following that nice tinted rounded top. Well, it’s down hard, and I’m not quite sure why, since oil (its biggest component) is up. Still, down is down.
Bonds, at long last, are seeing some selling. TLT, shown below, has blasted through various price gaps, but the trendline I’ve drawn seems to represent the new, legitimate resistance point.
One of my positions, IWM, continues to be a picture-perfect range play. I’m not going to be greedy on this one, and even though I think it’ll go a lot lower, I’ll be very happy to exit if it can get down to 190 or even a tough beneath.
Meanwhile, here’s a lighthearted song for your morning entertainment.
