MAcro-Monday ETF Ranks
Our trading video for Monday is here.
Near the bottom of the stack, our favorite leading economic indicator, the Dry Ships Index ETF (SEA), reflecting day rates of transport ships responsible for moving raw materials around the world and which has been weak for quite some time relative to virtual all other markets we track. Unlike the US equity markets, SEA recently broke down out of a multi month range in February and has not recovered. The equity market support levels have held up so far. But as a I said, we view this as a leading indicator.