by Dan Gibby | Sep 24, 2023 | ETF Past Letters
The broader markets were down about 2-3% last week, with the S&P and Nasdaq having their worst week since March. We have been warning that “September is historically the worst month of the year, which may play out again if last week’s low is...
by Dan Gibby | Sep 17, 2023 | ETF Past Letters
The S&P 500 has been rangebound and relatively flat the past two months despite many earnings, economic reports, and news events. The UAW went on strike as expected. Workers at Ford, General Motors, and Stellantis are demanding job security and better...
by Dan Gibby | Sep 10, 2023 | ETF Past Letters
The S&P 500, NASDAQ 100, and the Dow retraced mildly. The Transports, however, fell almost 4% and below the recent support area. The Russell 2000 also lost nearly 4% but held at its current support and 200-MA. None of those movements changed the existing...
by Dan Gibby | Sep 3, 2023 | ETF Past Letters
The broader markets had a robust rally last week as our market internals gave us a bullish signal and favorable economic data released. The SPY was up 2.5% while the QQQ gained an impressive 3.25% with the strength in the Magnificent Seven. Friday’s job report...
by Dan Gibby | Aug 27, 2023 | ETF Past Letters
The SPY, QQQ, and IWM finished the week marginally positive, up less than 1%. The DIA showed relative weakness, closing slightly down. Last Thursday, Nvidia (NVDA) issued a blow-out earnings report and had a huge gap up, bringing the broader markets with it in...
by Dan Gibby | Aug 20, 2023 | ETF Past Letters
We had a bearish bias ever since the market gap down on 8/2 on the U.S. debt downgrade, shortly after our market internals flashed a bearish signal for “caution for longs.” The broader markets were all down on the week. On Thursday, we mentioned that our...
