It would have been a good week to hit the snooze button. Stock Market Land was nice and boring last week with a slight upward bias.
DIA failed at resistance (248.48) on Tuesday and turned down for the rest of the week but managed to close higher than the previous week.
SPDR Dow Jones Industrial Average ETF (DIA) daily
XLE was a big mover again last week. Gaining almost 3% it managed to clear resistance at $72, closing the week at $73.30.
SPDR’s Select Sector Energy ETF (XLE) weekly
Emerging markets are likely on the verge of a big move. Price has been compressing for all of 2018. Over the next week or two price should break out of its wedge formation. Continue to hold recommendation from early 2017 (see green arrow).
iShares Core MSCI Emerging Markets ETF (IEMG) weekly
Adding to last weeks watch list is SMH, the Semiconductor ETF. Price is fading back to support from early 2016. This could be a nice entry if it sets up properly over the next week or two.
VanEck Vectors Semiconductor ETF (SMH) weekly
Here is what I like right now…
Square (SQ) daily
After fading back to support over the past couple of weeks and down about 12% from its all time high, SQ has been bid up from 2018 support and cleared resistance (the high from 2017). I am putting this on the buy recommendation list. Risk is under rising support.
Trade Smart,
Don