We love the new Chaikin dashboard, part of a new software released pushed over the weekend. What we used to do by hand, score each ETF based on fundament and technical criteria to arrive at a Relative strength rank, can now we done with a just a few clicks in the Chaikin Analytics app. So, in today's meeting, we were able to spend more time on a swing trading plan, using the OB/OS Chaikin Oscillator and relative strength. Based on the six three and six month returns, we're not seeing much indication of institutions bailing on the rally. it's still pretty cyclical and risk on, despite short term choppiness. Of course, things can change...
While we do some rotation, we are not seeing a market set for a crash. Perhaps we will some more changes after quarter end, but we trade what is in front of us and right now what we've experienced can be easily classified as a garden variety pullback. Watch todays video to see how we use Chaikin Analytics to ascertain our 30,000 ft. view. **Also, Chaikin has released a new Dashboard feature, which we explore this morning.
ETF Friday purchases
This week our rules forced us to liquidate 1/2 of our remaining positions in SLV and COPX, as well as our EWN ( Netherland) holdings in country level 2. We managed to capture most of the gains in SLV following our relative strength rule, but did end up giving a little back. These liquidations freed up some capital which we put to work in the Q's, EWY, EPI and a partial trounche in EWD. Record of our paper trades below.
On relative strength Wednesday, we focus on US sector strength in an attempt to anticipate where money is flowing. But it's important to point out that, compared to the rest of the world (and in particular Asian countries) the US relative performance is weaker lately.
While macro monday revealed slightly less bullish conditions, in context the pull back we have experienced is a standard 23% fib retracement, at least as of this morning. We will continue to monitor the macro environment. We also spent some time today with our RMSK analysis. RSMK revealed some potentially interesting rotations that may be in the beginning stages, we'll have to wait a bit longer and see what develops.