Don't Ignore This Chart!

Are You Crazy To Buy Growth ETFs Here?

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I spent some time on the Commodities Countdown webinar discussing the second half of the year. Currently, there are four growth-related ETF charts that are set up to break out. Should that happen, that would be a significant trend change. One example is the Social ETF (SOCL).

Today it tied the previous high. A breakout on this ETF would be a significant trend change. The SCTR is at 91. The relative strength is at new 2 year highs and the MACD is accelerating. The volume is still low which is a concern.


If you would like more information on some second half ideas, take an hour to view the fast moving Commodities Countdown webinar by clicking on this link. Every now and then it deviates from Commodities. This week was one of those deviation weeks! I also discussed some ways to discover if growth is going to be the new 'go-to' trade. Commodities Countdown Webinar 2016-07-07.

Have a nice weekend. If your swinging through Calgary, join in the fun of the Calgary Stampede! Parade tomorrow and ten days of fun. Yahoo! Worldwide friends welcome!

Good trading,
Greg Schnell, CMT, MFTA.

 

Announcement from the Author

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Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the Market Technicians Association (MTA) and the International Federation of Technical Analysts (IFTA).

Greg is also the co-author of Stock Charts for Dummies (Wiley, 2018). Greg joined StockCharts.com in 2012 and has be instrumental in helping launch a variety of new blogs and other commentary platforms. Presently, Greg contributes market analysis commentary to The Canadian Technician, Commodities Countdown and Don't Ignore This Chart blogs. Learn More
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