Last week the S&P 500 index opened down big on Tuesday and managed the highest weekly close since March 16th. The slow grind higher from the February correction continues. This is good.
Continue to hold SPY. Currently up 128% from my recommendation. Yes, I recommended buying SPY on November 29, 2011 and have not issued a sell recommendation since. This is the year I started publishing my technical research.
SPDR’s S&P 500 Trust Series ETF (SPY) daily
Technology continues to lead with XLK, the semiconductor sector index ETF, making a new all time closing high. Continue to hold. Currently up 71% from my recommendation.
SPDR’s Select Sector Technology ETF (XLK) daily
QQQ is up 150% from my recommendation and looks like it’s about to blow past the March highs. Continue to hold.
PowerShares QQQ Trust Ser 1 (QQQ) daily
Yes, I have been recommending being overweight technology for years. How is your sector weighting?
Speaking of tech, continue to hold recent recommendations SMH and SQ.
VanEck Vectors Semiconductor ETF (SMH) daily
I recommended SMH three weeks ago. It has busted up through the resistance zone with good momentum. Currently up 8% in short order. Continue to hold.
Square (SQ) daily
I recommended SQ about five weeks ago and it’s up 16%. Price just made a new all time high. Continue to hold.
Intel Corp (INTC) daily
Continue to hold Intel Corp (INTC). It is up 44% from my recommendation in October.
Continue to hold the Global X Social Media Index ETF (SOCL). It is up 54% from my recommendation in early 2017.
Global X Social Media ETF (SOCL) daily
The Facebook (FB) naysayers of the past couple of months have now gone into hiding as FB has made a new all time weekly closing high. It is up 51% from my recommendation in early 2017. Continue to hold.
Facebook Inc (FB) daily
I don’t know what you own but I hope you’ve got some tech.
I wrote about the retail sector a couple of weeks ago. XRT, the retail sector ETF, is looking good. Price has busted up through the five year chop zone, made a new three year high before the February correction and is now grinding higher.
I am recommending establishing a position in XRT. This goes on the buy list for Monday.
SPDR’s S&P Retail ETF (XRT) weekly
Lululemon (LULU) weekly
LULU went nuts last week gaining 15%. I was a little too cautious on this one.
Europe is having issues so the short sell of Latin America is acting as a nice hedge. The chart of ILF, the iShares Latin America ETF, shows how price has tanked since I recommended selling this short. Currently up 10% in three weeks. Continue to hold.
iShares S&P Latin America 40 Index Fund ETF (ILF) daily
Financials have been struggling all year, however, a quick look at the weekly chart of XLF, the financial sector ETF, shows intermediate support holding the weekly close. Continue to hold XLF and MS.
SPDR’s Select Sector Financial ETF (XLF) weekly
XLE, the energy sector ETF failed at resistance two weeks ago and last week rallied back a bit. Price action sure looks like it wants to take out $78 and clear resistance. Continue to hold.
SPDR’s Select Sector Energy ETF (XLE) weekly
The bond market rallied over the past two weeks but sold off last Thursday and Friday. Continue to keep an eye on the 115 level of TLT. This is a very important price level.
iShares Barclays 20+ Year Treasury Bond Fund (TLT) daily
Continue to hold all open positions. Consider XRT, the retail sector ETF and above all…have a great week.
For my friends in Hawaii…Da Bull is Da Kine.
Trade Smart,
Don