Global ETF Snapshot - Bullish WorlD-wide Reits
OUTPERFORM other macro ETFs Despite Yield Spike
In addition to finding bullish rated stocks in uptrends, we increase our odds of success by selecting securities that are part of indexes, sectors or industry groups that are both outperforming and accelerating in relative strength. Copper, for example, has been a huge high flyer in the commodity rally of recent months, and price action continues to show bullishness. Commodities have grabbed the headlines and copper still trading above it's 50 day moving average. Plus, the short, intermediate and longer term moving average relationships are all bullish. But in the last three weeks, we've seen the first early warning sign of a relative strength slow down. The second early warning sign came just days ago when price put in a lower high. Nothing in our analysis tells us sell, but it is telling us to be cautious. As traders with a 3 to 6 month time horizon, relative strength changes that fall within our emphasis zone of 60 to 120 day lookbacks, would be key to our style of buying and selling.
Meanwhile, gold miners (GDX) have traded right up to their 50 day moving average from below, but the move has accompanied by an impressive gain in relative strength rank. Our analysis isn't telling to load the wagon until the mule goes blind, but improvements in both Chaikin Money flow and relative strength suggest the possibility that GDX will take back its 50 day moving average and resume an uptrend that's been on pause for the past six months.