ETF Watch List

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Here’s a list of the 27 ETF’s I follow on a weekly basis. The ETF is listed at the top in bold followed below by the top 15 weighted holdings in each one. If green, then it’s bullish. This means the 8 EMA, 13 EMA, 21 EMA, and 34 EMA are positively stacked (i.e. 8 over 13 over 21 over 34). If red, then it’s bearish. This means the 8 EMA, 13 EMA, 21 EMA, and 34 EMA are negatively stacked (i.e. 8 under 13 under 21 under 34). If it’s yellow, then it’s neutral. The EMAs are not stacked either positively or negatively. Finally, the ones that are it italics are trading inside the 34 EMA wave. If you are a long only trader, then it’s best to look for pullback buys when green (look for ones in italics). Avoid the neutral and bearish stocks. If you are a two way trader, then you can also look for pullback sells when red (look for ones in italics). The trend is you friend!

This upcoming week’s observations are listed below (weekly change in brackets):

  • 4 ETF’s are bullish [-5], 2 are bearish [-1], and 21 are neutral [+6]
  • The most bullish sectors are QQQ (12), XRT (10), CLOU (10), SPY (9), XHB (9)
  • The most bearish sectors are XLE (9), OIH (7), XLI (6)
  • The market has moved more towards neutral this week with upcoming FOMC meeting

ETF Watch List

by

Here’s a list of the 27 ETF’s I follow on a weekly basis. The ETF is listed at the top in bold followed below by the top 15 weighted holdings in each one. If green, then it’s bullish. This means the 8 EMA, 13 EMA, 21 EMA, and 34 EMA are positively stacked (i.e. 8 over 13 over 21 over 34). If red, then it’s bearish. This means the 8 EMA, 13 EMA, 21 EMA, and 34 EMA are negatively stacked (i.e. 8 under 13 under 21 under 34). If it’s yellow, then it’s neutral. The EMAs are not stacked either positively or negatively. Finally, the ones that are it italics are trading inside the 34 EMA wave. If you are a long only trader, then it’s best to look for pullback buys when green (look for ones in italics). Avoid the neutral and bearish stocks. If you are a two way trader, then you can also look for pullback sells when red (look for ones in italics). The trend is you friend!

This upcoming week’s observations are listed below (weekly change in brackets):

  • 9 ETF’s are bullish [-6], 3 are bearish [+3], and 15 are neutral [+3]
  • The most bullish sectors are QQQ (12), XRT (10), CLOU (10), SPY (9), XHB (9)
  • The most bearish sectors are XLE (9), OIH (7), XLI (6)

Nasdaq Support Zone (Revision 1)

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The Nasdaq (NQ) futures contract is currently range bound between 15708.75 and 15517.75 as shown on the 120M continuation chart. If prices can fall below this range BEFORE heading above it, then there’s a potential volume profile support cluster between 15384.00 and 15263.75. This zone shows the heaviest volume traded between the low on 8/19 until now. Further supporting this zone is the potential change of polarity (old resistance becomes new support) and double top target ~ 15384, the point of control ~ 15348, and the monthly pivot @ 15323.42.  I would look to be a buyer in this volume profile zone. Aggressive entries would be the top of the range (15384.00), moderate entries would be at the POC ~ 15346.75, and conservative entries would be at the middle of the zone ~ 15323.75. This pattern fails below 15235.00. Upside targets would be to scale out in the middle of the current range bound zone ~ 15608.50, the recent high @ 15699.00, and any remaining contracts to let ride with trailing stops. There are a few different products to make this trade. You could use Nasdaq e-mini futures, Nasdaq micro futures, or QQQ call options. Just make sure to use the Nasdaq futures chart for your trigger if you buy QQQ options. The pattern fails below 15235.00, so place any stops below that level.

Example trades:

Long NQ @ 15384, stop @ 15234.75, target 1 @ 15608.50, target 2 @ 15699.00

Risk = -2985.00, target 1 = +4490.00, target 2 @ +6300.00

Long MNQ @ 15384, stop @ 15234.75, target 1 @ 15608.50, target 2 @ 15699.00

Risk = -298.50, target 1 = +449.00, target 2 @ +630.00

Chart_21-09-07_09-11-36

Nasdaq Support Zone

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The Nasdaq (NQ) futures contract is currently range bound between 15699.00 and 15517.75 as shown on the 120M continuation chart. If prices can fall below this range BEFORE heading above it, then there’s a potential volume profile support cluster between 15384.00 and 15263.75. This zone shows the heaviest volume traded between the low on 8/19 until now. Further supporting this zone is the monthly pivot @ 15323.42, the potential double top target ~ 15346.75 (also the point of control), and the potential change of polarity (old resistance becomes new support). I would look to be a buyer in this volume profile zone. Aggressive entries would be the top of the range (15384.00), moderate entries would be at the POC ~ 15346.75, and conservative entries would be at the middle of the zone ~ 15323.75. This pattern fails below 15235.00. Upside targets would be to scale out in the middle of the current range bound zone ~ 15608.50, the recent high @ 15699.00, and any remaining contracts to let ride with trailing stops. There are a few different products to make this trade. You could use Nasdaq e-mini futures, Nasdaq micro futures, or QQQ call options. Just make sure to use the Nasdaq futures chart for your trigger if you buy QQQ options. The pattern fails below 15235.00, so place any stops below that level.

Example trades:

Long NQ @ 15384, stop @ 15234.75, target 1 @ 15608.50, target 2 @ 15699.00

Risk = -2985.00, target 1 = +4490.00, target 2 @ +6300.00

Long MNQ @ 15384, stop @ 15234.75, target 1 @ 15608.50, target 2 @ 15699.00

Risk = -298.50, target 1 = +449.00, target 2 @ +630.00

ETF Watch List

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Here’s a LIST of the 27 ETF’s I follow on a weekly basis. The ETF is listed at the top in bold followed below by the top 15 weighted holdings in each one. If green, then it’s bullish. This means the 8 EMA, 13 EMA, 21 EMA, and 34 EMA are positively stacked (i.e. 8 over 13 over 21 over 34). If red, then it’s bearish. This means the 8 EMA, 13 EMA, 21 EMA, and 34 EMA are negatively stacked (i.e. 8 under 13 under 21 under 34). If no color, then it’s neutral. The EMAs are not stacked either positively or negatively. If you are a long only trader, then it’s best to look for pullback buys when green. Avoid the neutral and bearish stocks. If you are a two way trader, then you can also look for pullback sells when red. The trend is you friend!

This upcoming week’s observations are:

  • 15 ETF’s are bullish, 0 are bearish, and 12 are neutral
  • The most bullish sectors are QQQ (13), XLRE (12), XLU (11), XRT (11), XHB (11), CLOU (11), and XLP (10)
  • The most bearish sectors are XLE (5), IYT (4), and XLC (4)