ETF Market Technical Analysis Update 1-12-2010
Markets and commodities sold off across the board. Was this a one time event or the beginning of the correction everyone believes is due. Time will tell. The SPY ETF and IVV (S&P 500)each sold off by more than 1% today and IWM (Russell 2000 small caps). Our stops on XLB and EWY were both hit today with XLB yielding a 1% profit while EWY had a .7% loss. Volume was better today than most days recently. Volume = conviction. We will be watching for new signals from the Aroon and Keltner Channels. Next Video Market Blog Update on Thursday.