ETF’s are not only a passive form of investing, they can give you a very good idea of what is going on inside the various markets. I have a very large watch list of ETF’s that I follow. They give me a much better understanding of how the markets are tracking. This is a small sample of some of the ETF’s of interest.
There is no evidence at this point to suggest that the market has reached a peak. Quite the opposite in fact. P/E ratios are extremely high but they have been a very poor indicator of market peaks in the past.
I look at the evidence for the week ahead only. More than that you cannot do accurately.
SPY daily S&P 500 ETF has broken out of this very long term ascending wedge.
DJT weekly Dow Transports have broken out to the upside. An important economic indicator for obvious reasons.
QQQ weekly Tech is a bit soft but only a consolidation at this stage.
SMH weekly Semiconductors are used in everything that has electronic components.
XBI weekly Biotech is looking for a breakout of key resistance.
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XLU weekly Utilities are selling off resistance. Utilities are a safehaven play so therefore it indicates that money is moving to higher risk assets.
MTUM weekly Momentum stocks are in a steady uptrend.
SLY weekly Small caps are well bid.
SPHB daily High Beta or higher risk stocks getting plenty of inlfow.
XLF weekly Financials have broken out.
XLI weekly Industrial has broken out.
XLB weekly Materials have broken out.