Slope of Hope Blog Posts

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ETF Focus: Majors

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Let’s look at some of the biggest ETFs after this horrific week. We begin with the Dow 30 “diamonds” fund, which has been in a descending channel for over a year. One warning is that the rally over the past four weeks has been so powerful that, on Friday, we got a little above the resistance trendline. More importantly, however, we remain below the most recent “lower high”, so as long as that is intact, we’ve still got a downtrend.