I’ll level with you: when I created the empty posts for ETFs, one for bullish and one for bearish, I figured I’d be drowning in bullish charts and might not find any bearish ones.
I have the opposite problem. Crazy as it sounds, practically every ETF is bearish (or at least neutral) whereas I was hard-pressed to find anything even remotely bullish. Indeed, there’s one and only one index ETF which I could, with a straight face, say it kinda-sort bullish if you squint your eyes just right.
The other picks are pretty lame. Short-term, the leveraged bearish (against gold miners) fund might have some more life in it.
Another “bullish” chart is also actually bearish, since the FNGD is the bearish fund against the “FAANG” stocks. It has been beaten so mercilessly lately that it seems poised to bounce, particularly since the most recent battering hammered out a higher lower.
The final bullish chart sort of contradicts the DUST idea, but it’s a matter of time scale: long-term, the NUGT precious metals miners looks like a classic bullish setup in the form of a rounded bottom.
I’m kind of heartened to find so few bullish signals, and the next post (about bearish ETFs) will be lengthier.
