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 | 351.99 | 1.90 | Positive | Sell | O | 3.02 | 334.97 | +8W |
| EEM | iShares MSCI Emerging Markets ETF | 40.59 | 2.13 | Positive | Sell | X | 3.56 | 39.04 | +2W |
| EFA | iShares MSCI EAFE ETF | 71.96 | 2.12 | Positive | Sell | X | 3.92 | 69.48 | +4W |
| FM | iShares Frontier and Select EM ETF | 27.50 | 1.82 | Positive | Sell | X | 3.94 | 25.55 | +10W |
| IJH | iShares S&P MidCap 400 Index Fund | 267.69 | 1.52 | Positive | Sell | X | 4.36 | 251.49 | +10W |
| IJR | iShares S&P SmallCap 600 Index Fund | 103.38 | 1.47 | Positive | Sell | O | 2.94 | 97.97 | +16W |
| QQQ | Invesco QQQ Trust | 373.79 | 0.56 | Positive | Sell | X | 4.86 | 312.66 | -5W |
| RSP | Invesco S&P 500 Equal Weight ETF | 152.02 | 1.64 | Positive | Buy | O | 3.87 | 145.10 | +9W |
| SPY | SPDR S&P 500 ETF Trust | 448.84 | 1.43 | Positive | Sell | X | 4.32 | 408.30 | -1W |
| XLG | Invesco S&P 500 Top 50 ETF | 35.35 | 1.04 | Positive | Buy | X | 5.71 | 30.78 | -5W |
Additional Comments:
The SPDR Dow Jones Industrial Average ETF Trust DIA remains in a column of X’s this week, sitting at $355. The fund remains on its second consecutive buy signal on its default chart. The fund now scores above the 3.0 score threshold, sitting at 3.02. However, it still scores below the average US score of 3.65. DIA remains in a positive trend at current levels. Support is offered at $315 with overhead resistance at current levels.
The iShares MSCI Emerging Markets ETF EEM reversed down into a column of O’s this week to a chart reading of $40.50. However, the action seems to be constructive, as the fund remains on a string of consecutive buy signals. EEM now scores above the acceptable 3.0 threshold with a score posting of 3.56, catching up to developed markets representatives. The fund sees initial support at $39, with more substantial support down around $37.
The iShares MSCI EAFE ETF EFA remains in a column of X’s this week, sitting at 2023 highs at a chart reading of $73. Developed markets have deteriorated slightly, now shown by a positive, but weakening 3.92 fund score. As mentioned previously, however, the spread in fund score between EFA and emerging markets fund EEM is falling. The ETF remains in a positive trend at current levels with established support offered at $70.
The iShares MSCI Frontier and Select EM ETF FM remains in a column of X’s this week after posting a buy signal for the first time since 2021 recently. The fund is now seen at a chart reading of $28.00. FM has an acceptable fund score of 3.94 and is now paired with a positive 2.50 score direction. Support is seen below at $24.50.
The iShares S&P MidCap 400 Index Fund IJH maintains its column of X’s this week. The fund also remains in a positive trend, recently advancing to a price of $270. IJH has a current fund score of 4.36 which is now above the average US score of 3.65. From here, overhead resistance is found at $270 with the bullish support line found below. Further upside participation would see the fund return to a buy signal.
The iShares S&P SmallCap 600 Index Fund IJR remains on a buy signal this week after moving to recent rally highs at $104. Despite the recent action leading to three consecutive buy signals, IJR maintains an improved, but still unacceptable 2.94 fund score. Support is offered below at $97, with overhead resistance found at $108, the highs for the year.
The Invesco QQQ Trust QQQ remains in a column of X’s this week and is seen at a price of $385. Recent positive participation sees the fund hold a strong 4.86 fund score and is paired with a positive 2.33 score direction. This now outpaces the average US fund, which shows a 3.65 average score. Initial support is offered at $290, well below current levels.
The Invesco S&P 500 Equal Weight ETF RSP remains in a column of X’s this week, now seen at a price of $154. RSP holds a negative 1.63 score direction and now displays a 3.87 fund score. This is still behind the average S&P 500 Index fund score of 4.64. The spread between the two has solidified around current levels over the last few weeks. Support is now seen at $140.
The SPDR S&P 500 ETF Trust SPY remains in a column of Xs this week and trades at a price of $455. The fund now posts a strong 4.32 fund score, besting the average US fund score of 3.65. May’s action saw the fund return to a column of X’s against SPXEWI suggesting near-term strength for the cap-weighted names. Support is seen at $385 on the default chart, March lows.
The Invesco S&P 500 Top 50 ETF XLG remains in a column of X’s this week after undergoing a recent share split. With this in mind, the fund is seen at a price of $36, and it remains on a string of three consecutive buys signals. Furthermore, XLG now has a near-perfect 5.71 fund score with a now positive score direction of 3.63. XLG scores above the average US Fund (3.65) and has shown resilience in line with other larger names over the past week. Support is seen at $28.50 on the default chart, notably below current levels.
