Week 25 Day 2 Market Trends
Very short note today to just list out the ETFs that turned bearish today. (Note that this trend is observed for very short-term trades from a few days to a few weeks only).
ETFs that turned bearish today:
FNGS
KRE
SLV
SMH
XLC
XLE
XLK
We can see that the big tech ETFs turned bearish today. This brings us to 10 out of the 27 ETFs that I track to trend short-term bearish.
Do note that many of the ETFs have been down for 3-4 straight days now. So, I would not recommend trading only by the color code above. Some of the ETFs could have a sympathy uptrend. Also, do note that the VIX (Volatility Index) is sitting close to historic lows. So, technically we are still in a bull trend overall.