The View; They Refuse To Go Down

A few things that stand out from the spreadsheet;

  • Nasdaq is now up 7 out of the last 8 days and according to IBD it clocked its 6 distribution day yesterday.
  • The $IYR is now up 7 days in a row with 87% of its stocks above their 10 day MA and 98% above their 50 day (possible mean reversion play).
  • $DIA is now up 7 days in a row making $DXD, $SDOW in play for mean reversion plays if one is into that strategy.
  • $XLI is up 7 days in a row as well.
  • $EEM which was a strong ETF at the end of last year is now down 5 days in a row and approaching its 50 day ma that can act as support.
  • You will also notice a great deal of ETF’S trading below their bollinger bands, a few ideas there.

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