DIA Games IWM IYT QQQ Richard Suttmeier SPY

The New Year Begins In ‘Sell Strength’ Mode For All Five Equity ETFs

The New Year Begins In 'Sell Strength' Mode For All Five Equity ETFs

The day by day charts present the one month-to-month worth degree for transports and a number of dangerous ranges for all 5 fairness ETFs. I additionally present the weekly charts for transports and Russell 2000.

Weekly charts for the transports and small caps ETFs present the significance of the 200-week easy shifting common which I name the “reversion to the mean”. Keep in mind that the important thing to the Christmas upside reversal was that Spiders held its “reversion to the mean” at its Dec. 26 low of $233.76. If transports and small caps finish the week above their “reversion to the mean” ranges at $163.89 and $134.67, respectively, the bear market rally off the Christmas lows will proceed. An in depth on transports under my semiannual pivot of $159.81 re-enforces the bear marketplace for shares.

Right here’s The Year Finish Scorecard

2018 Scorecard For The Equity ETFsSPDR Dow Jones Industrial Common ETF (NYSEARCA:DIA)

Daily Chart For DiamondsCourtesy of MetaStock Xenith

The every day chart exhibits that Diamonds confirmed a “death cross” on Dec. 19 when the 50-day easy shifting common declined under the 200-day easy shifting common indicating that decrease costs would comply with. In the present day theses shifting averages present resistances at $245.76 and $249.76, respectively. DIA set its all-time intraday excessive of $269.28 on Oct. three and is correction territory 13.four% under that degree. DIA is 7.5% above its 2018 low of $216.97 set on Dec. 26. The horizontal strains are my semiannual, month-to-month and annual dangerous ranges at $243.47, $255.89 and $257.94, respectively.

SPDR S&P 500 ETF Belief (NYSEARCA:SPY)

Daily Chart For SpidersCourtesy of MetaStock Xenith

The every day chart exhibits that Spiders has been underneath a “death cross” since Dec. 7 with the 50-day and 200-day SMAs now at $264.88 and $274.10, respectively. SPY set its all-time intraday excessive of $293.94 on Sept. 21 and is in correction territory 15% under that degree. SPY is 6.9% above its 2018 low of $233.76 set on Dec. 26. The horizontal strains are my semiannual, month-to-month and annual dangerous ranges at $266.14, $280.09 and $285.86, respectively.

PowerShares QQQ Belief ETF (NASDAQ:QQQ)

Daily Chart For QQQsCourtesy of MetaStock Xenith

The every day chart for QQQs exhibits the formation of a “death cross” on Dec. three with the 50-day SMA under the 200-day SMA now at $163.94 and $171.42, respectively. QQQ set its all-time intraday excessive of $187.53 on Oct. 1 and is in correction territory 17.7% under this degree. QQQ is 7.5% above its 2018 low of $143.46 set on Dec. 24. The horizontal strains are my semiannual, annual and month-to-month dangerous ranges at $167.53, $169.27 and $180.91, respectively.

iShares Transportation Common ETF (NYSEARCA:IYT)

Daily Chart For Transports ETFCourtesy of MetaStock Xenith

The day by day chart for IYT exhibits the formation of a “death cross” on Nov. 26 with the 50-day and 200-day SMAs now at $181.03 and $191.63, respectively. The transports ETF set its all-time intraday excessive of $209.43 on Sept. 14 and stays in bear market territory 21.2% under the excessive. IYT is 6.three% above its 2018 low of $155.24 set on Dec. 24. The horizontal strains are my month-to-month worth degree at $159.63 with my month-to-month, quarterly and annual dangerous ranges at $189.29, $195.81 and $196.35, respectively.

Weekly Chart For The Transportation ETF

Weekly Chart For Transports ETFCourtesy of MetaStock Xenith

The weekly chart for IYT is damaging however oversold with the ETF under its five-week modified shifting common at $174.82. The ETF is on the cusp of its 200-week easy shifting common or “reversion to the mean” at $163.89. The 12x3x3 weekly sluggish stochastic studying is projected to finish the week at 16.65 which is under the oversold threshold of 20.00. A weekly shut above $163.89 is a constructive however an in depth under $159.63 is a warning.

iShares Russell 2000 ETF (NYSEARCA:IWM)

Daily Chart For The Russell 2000 ETFCourtesy of MetaStock Xenith

The day by day chart for IWM exhibits that this ETF was the primary to provide a “death cross” warning again on Nov. 13 with the 50-day and 200-day SMAs now at $145.60 and $158.83, respectively. This ETF set its all-time intraday excessive of $173.39 on Aug. 31 and stays in bear market territory 22.eight% under the excessive. IWM is 6.four% above its 2018 low of $125.81 set on Dec. 26. The horizontal strains are my weekly worth degree at $131.61 with my semiannual, annual, month-to-month and quarterly dangerous ranges at $149.77, $157.49, $158.78 and $160.93, respectively.

Weekly Chart For The Russell 2000 ETF

Weekly Chart For The Russell 2000 ETFCourtesy of MetaStock Xenith

The weekly chart for IWM is unfavourable however oversold with the ETF under its five-week modified shifting common at $141.21. The ETF is under its 200-week SMA or “reversion to the mean” at $134.67. The 12x3x3 weekly sluggish stochastic studying is projected to finish the week at 11.98 which is under the oversold threshold of 20.00. A weekly shut above $134.67 is a constructive however an in depth under $131.76 is a warning.

Disclosure: I/we have now no positions in any shares talked about, and no plans to provoke any positions inside the subsequent 72 hours. I wrote this text myself, and it expresses my very own opinions. I’m not receiving compensation for it (aside from from Looking for Alpha). I’ve no enterprise relationship with any firm whose inventory is talked about on this article.

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