A weekly review of major market ETFs
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 | 330.63 | 1.91 | Positive | Sell | O | 2.82 | 323.90 | -6W |
| EEM | iShares MSCI Emerging Markets ETF | 41.10 | 2.49 | Positive | Sell | X | 3.30 | 39.31 | +2W |
| EFA | iShares MSCI EAFE ETF | 70.39 | 2.68 | Positive | Sell | X | 4.38 | 64.54 | +1W |
| FM | iShares MSCI Frontier and Select EM ETF | 26.73 | 2.75 | Positive | Sell | O | 2.13 | 27.16 | +1W |
| IJH | iShares S&P MidCap 400 Index Fund | 250.70 | 1.68 | Negative | Sell | X | 4.30 | 243.61 | +1W |
| IJR | iShares S&P SmallCap 600 Index Fund | 98.61 | 1.41 | Positive | Sell | O | 2.94 | 97.47 | +1W |
| QQQ | Invesco QQQ Trust | 275.15 | 0.80 | Negative | Sell | O | 1.69 | 294.45 | +1W |
| RSP | Invesco S&P 500 Equal Weight ETF | 144.94 | 1.82 | Positive | O | 5.39 | 142.49 | +1W | |
| SPY | SPDR S&P 500 ETF Trust | 388.64 | 1.65 | Positive | Sell | O | 1.81 | 396.28 | +1W |
| XLG | Invesco S&P 500 Top 50 ETF | 280.39 | 1.34 | Positive | Sell | O | 1.70 | 297.04 | +1W |
Additional Comments:
The SPDR Dow Jones Industrial Average ETF Trust DIA remains unchanged this week, sitting in a column of O’s at a price of $330. The fund has a current score of 2.82 with a positive score direction of .90, and it now scores below the average US score of 2.93. DIA remains in a positive trend at current levels. Support is offered at $290 on the default chart, the September chart low, with overhead resistance at $345.
The iShares MSCI Emerging Markets ETF EEM sits in a column of X’s this week, recently seen at a price of $41.50. EEM has now posted a third consecutive buy signal and moved back into a positive trend to start the year. With this positive action, EEM now outscores the average Non-US Fund score of 3.10 scoring an above-average 3.30 score. Support is now seen at a price of $38.00.
The iShares MSCI EAFE ETF EFA sits in a column of X’s this week at a price of $71.00. The fund remains in a positive trend but is towards the top of its trading band with a weekly OBOS reading of 68%. The fund now showcases a strong 4.38 fund score, outpacing the average non-US score of 3.10. Support is offered at $55 on the default chart.
The iShares MSCI Frontier and Select EM ETF FM remains in a column of X’s this week after bouncing off its bullish support line in the middle of November, seeing no price changes over the last seven days. The fund has a weak score of 2.13 and is paired with a positive .69 score direction. Bouncing off support, FM is now seen at a price of $26.50. Support is seen below at $23.50, lows for 2022.
The iShares S&P MidCap 400 Index Fund IJH reversed back into a column of X’s last week, now sitting at an unchanged price of $255. IJH remains in a negative trend but is now testing the bearish resistance line at current levels. The fund has a current fund score of 4.30 which is above the average US score of 2.93. Support can be found at $240 on the default chart, the December 2022 lows.
The iShares S&P SmallCap 600 Index Fund IJR reversed down into O’s this week and sits at a price of $98. The fund maintains a weak technical posture having recently broken a string of 2 consecutive sell signals and breaking back into a positive trend with recent action. IJR now sits below the acceptable fund score of 3.0 with a score of 2.94 and is paired with a positive 1.22 score direction. Support is offered at $93 on the default trend chart.
The Invesco QQQ Trust QQQ remains in a column of X’s this week, charting at a price of $280. QQQ remains in a negative trend and has an unacceptable fund score of 1.69. This is lower than the average US fund (2.93), and the fund holds a now negative 1.11 score direction. Initial support is offered at $260.
The Invesco S&P 500 Equal Weight ETF RSP remains in a column of X’s this week, charting at a price of $148. The reversal signals the “action point” of a shakeout for the fund, with the completion of the pattern coming above $152. RSP holds a positive 1.56 score direction and has a fund score of 5.39. This beats the average S&P 500 Index fund score of 3.00 and remains the highest score of the funds in this report. Support is seen at $140 on the default chart.
The SPDR S&P 500 ETF Trust SPY remains in a column of X’s this week, sitting at a price of $400. The fund has a 1.81 score posting which is below the average S&P 500 Index fund score of 3.00. SPY remains in a positive trend and would complete a shakeout pattern with a triple top buy signal at $415. Support is seen at $375 on the default chart.
The Invesco S&P 500 Top 50 ETF XLG remains in a column of O’s this week and currently sits at an unchanged price of $275. XLG now has a 1.70 fund score with a now negative score direction of -1.36. XLG still scores below the average US Fund (2.93). Support is seen at $270 on the default chart.
