by Dan Gibby | Aug 29, 2021 | ETF Past Letters
The week started bullish last Monday with the FDA giving Pfizer and BioNTech full approval for their vaccines. Re-opening and the travel/leisure sectors got much-needed bounces and look higher. Powell’s bullish speech last Friday in Jackson Hole propelled all...
by Dan Gibby | Aug 22, 2021 | ETF Past Letters
Although the markets suffered a bearish retracement last week towards their 50-MA, they bounced robustly after Thursday’s bearish gap down, with the SPY and QQQ closing fairly bullish. But there was a lot of damage caused in many sectors and stocks, and breadth...
by Dan Gibby | Aug 15, 2021 | ETF Past Letters
Another week, more new highs, despite poor breadth. Earnings season is coming to a close, with 87% of S&P 500 companies beating 2Q projections. The SPY and DIA slowly churned their ways to new all-time highs. QQQ closed bullish and looks higher. IWM...
by Dan Gibby | Aug 8, 2021 | ETF Past Letters
With a slew of positive earnings continuing and an optimistic jobs report, the broader markets rallied, with the SPY and DIA closing at all-time highs. IWM bounced but continues to lag. The “crack cocaine” party – as we call it — continues with the Fed...
by Dan Gibby | Aug 1, 2021 | ETF Past Letters
The broader markets closed mixed last week, although the weekly charts of the SPY, DIA, and QQQ have bullish +123 Continuations on the weekly charts. IWM bounced but continues to lag. The “crack cocaine” party – as we call it — continues with the FOMC...
by Dan Gibby | Jul 25, 2021 | ETF Past Letters
With the nasty bear gap in the broader markets last Monday, we were surely hoping for a multi-day selloff to get the internals in bullish alignment for a better long opportunity. Our oversold breadth indicator suggested a bounce – but wow – not a greater than...
