The Short-Term Leader List
The strongest ETFs are blue, the additional leaders are green and the weakest are red. The S&P500 is the benchmark. Disclaimer: This list is not a recommendation to buy or sell.
No surprise that QQQ has moved back into leadership. FFTY has dropped off the list.
Lot’s of volume in this ETF recently. The stocks in this ETF are high growth, high valuation. They are among the best performers in the market.
High volume selling is bad for these stocks, but what does it say about the general market?
I’m not sure. I want to say it is bad for the general market, but, on the other hand, these stocks have moved so far and so quickly that high volume selling makes sense. I’m trying to figure it out.
Yikes!
Outlook
The ECRI index has bottomed out and is pointing higher, but weak M2 growth is troubling.
The long-term outlook is improving, but concerns remain.
The medium-term trend is up, but the best period for buying is past.
The short-term trend is down.
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