Preface to all posts: Instead of my typical ETF videos over the weekend, I went through all the charts and put them into certain groupings. In this post, I cover the ETFs that seemed appropriate for the grouping mentioned in this post's title.
This category is pretty much the “steady as she goes” group. We start off with semiconductors, which has become the most important sector in the entire universe. For all the wild swings, SMH is actually behaving itself quite placidly, making a steady series of higher highs and higher lows within its neatly-formed price channel that dates back for months.
The S&P 500 is also marching steadfastly higher, although there’s a bit of an asterisk to mention here, which is the brief failure below the wedge. Because hope springs eternal in the bearish heart, I would like to suggest that this break in the wedge is a “tell” about a forthcoming reversal.
The industrial fund XLI, however, has no such misgivings. This sucker has been steady Freddy, and I can’t’ imagine at this point how many inbound thermonuclear missiles it would take to compel the public to sell stocks in any meaningful quantity at this point. They’ve simply been too brainwashed for too long.
