Well, I had pulled together a bunch of ETFs, nice and neat, to talk about them, but out of the clear blue sky some kind of rumors about the deal terms of the long-awaited China/US agreement are flying around, the equities are zipping northward again.
Our colleagues over at ZH are throwing cold water all over these headlines, saying there’s nothing to it, but I see double digit gains on ES and NQ, and I’d be flabbergasted not to wake up to the same. But since I went to the trouble of gathering up these ETFs, I might as well share them and say a few words on each.
This China news could send the diamonds ripping right over that horizontalEmerging markets haven’t hit resistance yet (the grey line above the price bars)The bold (or crazy) might consider the triple-bearish on energy fundMexico looks vulnerable to a downside reversalRising interest rates should cause home construction to weakenSmall caps look more vulnerable than larger cap indexesDow Transports mashed up against Bollinger; more prone to weakness than IndustrialsBank indexes have been on a tear lately; nearing exhaustionMaterials sector very close to major resistance; crossing above very bullishEnergy has risen to the point where it’s shortable againA cross above the horizontal would be extremely bullish for market overallThis is the third major attempt for energy to cross its horizontal; watch Wednesday closelyRetail one of the most vulnerable sectors; ultimately looking for a break below horizontal beneath present price levels
