The biggest upside mover this week was the iShares S&P SmallCap 600 Index Fund (IJR), up 2.23%.
Portfolio View - Major Market ETFs
| Symbol | Name | Price | Yield | PnF Trend | RS Signal | RS Col. | Fund Score | 200 Day MA | Weekly Mom |
|---|---|---|---|---|---|---|---|---|---|
| DIA | SPDR Dow Jones Industrial Average ETF Trust | 279.46 | 2.04 | Positive | X | 3.92 | 265.53 | -1W | |
| EEM | iShares MSCI Emerging Markets ETF | 43.05 | 2.08 | Positive | Sell | O | 2.92 | 42.12 | -3W |
| EFA | iShares MSCI EAFE ETF | 68.36 | 2.95 | Positive | Sell | O | 3.26 | 65.43 | -3W |
| FRN | Invesco Frontier Markets ETF | 14.49 | 1.64 | Positive | Sell | O | 3.81 | 13.99 | +11W |
| IJH | iShares S&P MidCap 400 Index Fund | 201.43 | 1.44 | Positive | Buy | X | 4.09 | 192.68 | -1W |
| IJR | iShares S&P SmallCap 600 Index Fund | 82.37 | 1.36 | Positive | Buy | X | 4.00 | 78.09 | -1W |
| QQQ | Invesco QQQ Trust | 203.90 | 0.76 | Positive | Buy | X | 5.76 | 188.28 | -1W |
| RSP | Invesco S&P 500 Equal Weight ETF | 112.84 | 1.79 | Positive | Buy | X | 4.95 | 107.11 | -1W |
| SPY | SPDR S&P 500 ETF Trust | 313.53 | 1.75 | Positive | O | 3.51 | 293.58 | -1W | |
| XLG | Invesco S&P 500 Top 50 ETF | 226.70 | 1.68 | Positive | O | 4.58 | 211.10 | -1W |
Additional Comments:
It was a positive week in terms of performance over the course of the last week (12/3-12/10), with all 10 of the major market ETFs posting gains in excess of 1%. The biggest upside mover was the iShares S&P SmallCap 600 Index Fund IJR, up 2.23% on the week. With no other significant changes or developments to discuss within the major market realm, this week we wanted to expand on IJR’s positive price action as it strengthens the overall technical case for the small-cap segment of the market. Although small caps continue to lag the large- and mid-cap spaces for the year, we find that this area of the market is still up about 18.83% (through 12/10). A significant portion of that return has come just within the last three months and the technical picture still points to higher price potential from here. On the fund’s default chart, IJR most recently completed a spread quintuple top at $82 in early November. Notice on the more sensitive 0.5-point per box chart, IJR has successfully completed a series of higher tops and sits just one box away from completing a fifth consecutive buy signal, which would come with a move to $83. In addition to the fund’s positive price action, monthly momentum has been positive for three months which suggests the potential for higher prices. At this time, IJR has a positive direction of 1.54 and is scoring right at the buyable 4.00-level. Near term, support is available in the mid $70s while the long-term bullish support line sits at $70. For additional insight into the small-cap space, be sure to read Monday’s feature titled, “Small-Cap Unwrapped.”
