Many of the leading ETFs appear to be building bases after the drawdown of the last few weeks.
Interesting alerts/signals that occurred this week include:
- VFH – Vanguard Financials ETF triggered a weekly alert this week but still seems to be having trouble breaking out of a base that was started in early August.
- In conjunction with the Financials ETF, Regional Banking ETF symbol KRE shows evidence of breaking out above the downtrend line started in mid-March on the weekly basis. KRE had a fairly sharp up move on Friday on increasing volume.
Before entering new positions it helps to know about market action, you can view weekly videos here: https://profitableswingtrading.com
As always try to attempt new positions on ETFs already in uptrends (symbols with ADX greater than 15 or 20 and increasing).
Here is the sortable table of the top ETFs for this week:
[table id=46 /]