Don't Ignore This Chart!

FirstTrust Internet ETF Gaps above Wedge Resistance


The FirstTrust Internet ETF (FDN) broke out with a gap last week and that gap is holding. Mind that gap! The gap is bullish as long as it holds. Also notice that FDN broke resistance from the mid April highs and the Price Relative broke the trendline extending down from late March.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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