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Identifying index & ETF trends in weekly stockcharts

- Rank: 27
- Followers: 30
- Votes: 527
- Years Member: 19
- Last Update: 18 May 2022, 20:23
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Categories:Chart Patterns
Trend Analysis
Volume Analysis
May 16th 2022 5P Update: Inside day today on Q%27s after a counter-trend bounce. Bounce looked weak (to me). Some bright spots in energy, ag, + chemicals...not much else looking good to me. Still looking for 3700 at some point this year - maybe around mid-term elections. So, what to do? $NAA150R hit single digits. Historically, that has been a good time to add to long-term holdings (401k type investments) on big red days (-3% on Q%27s). For short-term trading, I%27m looking to short weak bounces via ETFs ($SARK, $LABD, $TECS, etc, etc) & buy extreme oversold fades in the best companies (ex. $AAPL). In addition, I%27m looking to buy dips in uptrends in select energy & ag names ($OXY, $DVN, $CF) for trades (just sold out of $CF today - will look to reload). So, this type of market (bear market) isn%27t my favorite, but there%27s plenty for me to do.
$INDU - Dow Jones Industrial Average
$MID - S&P Mid Cap Index
$NDX - Nasdaq 100
$SML - S&P600 Small Cap Index
$TRAN - DJ Transports
10m ETFs to Watch - ARKK
10m ETFs to Watch - DIA
10m ETFs to Watch - EEM
10m ETFs to Watch - FXI
10m ETFs to Watch - GDX
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