reports
- Dave Nicoski
- Ross LaDuke
Vermilion ETF Pathfinder: Actionable ETF research & Ideas
Upgrading Consumer Discretionary; Outlook increasingly bullish Upgrading Consumer Discretionary. The XLY's price and relative strength are breaking topside resistance to new highs... see below (right) and page 5. Market outlook and internals. Market internals continue to improve, which bolsters our increasingly bullish outlook. The Cyclicals vs. Staples ratio (XLY/XLP) continues to advance to new highs, confirming a risk-on environment. Also, one of the few previously concerning indicators we'...
SLV ISHARES SILVER TRUST
GLD SPDR GOLD TRUST
XLB MATERIALS SELECT SECTOR SPDR FUND
EEM ISHARES MSCI EMERGING MARKETS ETF
EWC ISHARES MSCI CANADA ETF
IWM ISHARES RUSSELL 2000 INDEX FUND
IAU ISHARES COMEX GOLD TRUST
EWQ ISHARES MSCI FRANCE ETF
EIRL ISHARES MSCI IRELAND CAPPED ET
MCHI.. ISHARES MSCI CHN
XLV SELECT SECTOR SPDR-HEALTH CARE
XLP SELECT SECTOR SPDR-CONSUMER STAPLES
XLY SELECT SECTOR SPDR-CONSUMER DISCRETIONARY
XLE SELECT SECTOR SPDR-ENERGY
XLF SELECT SECTOR SPDR-FINANCIAL
XLI SELECT SECTOR SPDR-INDUSTRIAL
XLK SELECT SECTOR SPDR-TECHNOLOGY
XLRE REAL ESTATE SPDR
XLU SELECT SECTOR SPDR-UTILITIES
THD. ISHARES MSCI THAILAND CAPPED E
SOXX ISHARES PHLX SEMICONDUCTOR ETF
ENZL ISHARES MSCI NEW ZEALAND CAPPE
SMH MARKET VECTORS SMEICONDOUCTOR ETF
SPY SPDR S&P 500 ETF
EFA ISHARES TRUST MSCI EAFE INDEX FUND
BNO US BRENT OIL FUND LP
A2AMMR PUREFUNDS ISE MOBILE PAYMENTS ETF
SCZ ISHARES MSCI EAFE SMALL-CAP ET
EPU ISHARES MSCI ALL PERU CAPPED E
ENOR ISHARES MSCI NORWAY CAPPED ETF
EWU SPDR S&P OIL & GAS EXPLORATION ETF
XOP ISHARES NORTH AMERICAN TECH-SOFTWARE ETF
IGV BLACKROCK INSTITUTIONAL TRUST COMPANY N.A.
EWS SPDR S&P SOFTWARE AND SERVICES FUND
XSW SPDR KBW REGIONAL BANKING ETF
KRE. VANECK VECTORS OIL REFINERS ETF
CRAK INVESCO DB COMMODITY INDEX TRACKING FUND
DBC INVESCO DB OIL FUND
DBO ISHARES MSCI HONG KONG ETF
EWH ISHARES U.S. OIL & GAS EXPLORA
IEO ISHARES MSCI FINLAND CAPPED INVESTABLE MARKET INDEX FUND
EFNL ISHARES MSCI JAPAN ETF
EWJ SPDR S&P RETAIL ETF
XRT MARKET VECTORS RETAIL ETF
- Dave Nicoski
- Ross LaDuke
Vermilion ETF Pathfinder: Actionable ETF research & Ideas
Upgrading Energy and Small-caps • Energy and small-caps breaking out. We are upgrading both to overweight. Continued strength in oil prices has led the XLE to breakout topside resistance... see below and page 6. Also breaking out to new highs is the Russell 2000 small-cap index (IWM)... see below and page 3. • Big picture trends: Interest rates, the USD, and commodities. The 10-year Treasury yield has continued to climb, moving as high as 3.115% last week to levels not seen since 2011. Wit...
SLV ISHARES SILVER TRUST
GLD SPDR GOLD TRUST
XLB MATERIALS SELECT SECTOR SPDR FUND
EEM ISHARES MSCI EMERGING MARKETS ETF
EWC ISHARES MSCI CANADA ETF
IWM ISHARES RUSSELL 2000 INDEX FUND
ECH. ISHARES MSCI CHILE CAPPED INVESTABLE MARKET INDEX FUND
IAU ISHARES COMEX GOLD TRUST
EWQ ISHARES MSCI FRANCE ETF
EWY ISHARES MSCI SOUTH KOREA CAPPED INDEX FUND
MCHI.. ISHARES MSCI CHN
XLV SELECT SECTOR SPDR-HEALTH CARE
XLP SELECT SECTOR SPDR-CONSUMER STAPLES
XLY SELECT SECTOR SPDR-CONSUMER DISCRETIONARY
XLE SELECT SECTOR SPDR-ENERGY
XLF SELECT SECTOR SPDR-FINANCIAL
XLI SELECT SECTOR SPDR-INDUSTRIAL
XLK SELECT SECTOR SPDR-TECHNOLOGY
XLRE REAL ESTATE SPDR
XLU SELECT SECTOR SPDR-UTILITIES
THD. ISHARES MSCI THAILAND CAPPED E
IAI ISHARES U.S. BROKER-DEALERSETF
IHI ISHARES U.S. MEDICAL DEVICES E
EFA ISHARES TRUST MSCI EAFE INDEX FUND
DBO POWERSHARES DB OIL FUND
BNO US BRENT OIL FUND LP
SCZ ISHARES MSCI EAFE SMALL-CAP ET
EPU ISHARES MSCI ALL PERU CAPPED E
ENOR ISHARES MSCI NORWAY CAPPED ETF
EWI POWERSHARES DB COMMODITY INDEX FUND
EWU POWERSHARES DB US DOLLAR INDEX BULLISH FUND
DBC SPDR S&P OIL & GAS EXPLORATION ETF
UUP ISHARES NORTH AMERICAN TECH-SOFTWARE ETF
XOP BLACKROCK INSTITUTIONAL TRUST COMPANY N.A.
- Dave Nicoski
- Ross LaDuke
Vermilion ETF Pathfinder: Actionable ETF research & Ideas
Upgrading Utilities; Downgrading Industrials • Utilities upgrade, Industrials downgrade. Utilities' price and relative strength trends have been hitting higher lows and higher highs since the market bottomed in February, justifying an upgrade to market weight... see below and page 7. As for Industrials, the XLI's price and relative strength trends have continued to deteriorate, prompting us to downgrade the sector to market weight... see below and page 8. • Big picture trends: Commodities ...
XLB MATERIALS SELECT SECTOR SPDR FUND
EWQ ISHARES MSCI FRANCE ETF
XLV SELECT SECTOR SPDR-HEALTH CARE
XLP SELECT SECTOR SPDR-CONSUMER STAPLES
XLY SELECT SECTOR SPDR-CONSUMER DISCRETIONARY
XLE SELECT SECTOR SPDR-ENERGY
XLF SELECT SECTOR SPDR-FINANCIAL
XLI SELECT SECTOR SPDR-INDUSTRIAL
XLK SELECT SECTOR SPDR-TECHNOLOGY
XLRE REAL ESTATE SPDR
XLU SELECT SECTOR SPDR-UTILITIES
THD. ISHARES MSCI THAILAND CAPPED E
BJK MARKET VECTORS-GAMING ETF
SPY SPDR S&P 500 ETF
DBO POWERSHARES DB OIL FUND
BNO US BRENT OIL FUND LP
SCZ ISHARES MSCI EAFE SMALL-CAP ET
EPU ISHARES MSCI ALL PERU CAPPED E
EWI ISHARES NORTH AMERICAN TECH-SOFTWARE ETF
EWU BLACKROCK INSTITUTIONAL TRUST COMPANY N.A.
IGV POWERSHARES ETF NETWORKING PORT
EWS INVESCO POWERSHARESCAPITAL MANAGEMENT LLC
PXQ SPDR S&P SOFTWARE AND SERVICES FUND
RYU SPDR KBW REGIONAL BANKING ETF
XSW SPDR KBW CAPITAL MARKETS ETF
KRE. VANECK VECTORS OIL REFINERS ETF
- Dave Nicoski
- Ross LaDuke
Vermilion ETF Pathfinder: Actionable ETF research & Ideas
U.S. Dollar, broad commodities, and interest rates on the rise • Big picture trends: The USD, commodities, and interest rates. The USD (UUP) has broken topside its downtrend - a bullish development... see below. In a break from the traditional inverse relationship between the dollar and commodities (DBC), the latter remains on bullish footing, and oil prices (DBO, USO, BNO) continue to lead the advance - remain overweight. Also on the rise is the 10-year Treasury yield, which is testing 3.00%...
USO UNITED STATES OIL FUND LP
XLB MATERIALS SELECT SECTOR SPDR FUND
EEM ISHARES MSCI EMERGING MARKETS ETF
EWO ISHARES MSCI AUSTRIA CAPPED ET
ECH ISHARES MSCI CHILE CAPPED ETF
EWQ ISHARES MSCI FRANCE ETF
EWY ISHARES MSCI SOUTH KOREA CAPPED INDEX FUND
ITA ISHARES U.S. AEROSPACE & DEFENSE ETF
XLF SELECT SECTOR SPDR-FINANCIAL
XLI SELECT SECTOR SPDR-INDUSTRIAL
XLK SELECT SECTOR SPDR-TECHNOLOGY
FDN FIRST TRUST DOW JONES INTERNET INDEX FUND
A14Y9A FIRST TRUST NASDAQ CEA CYBERSECURITY ETF
THD. ISHARES MSCI THAILAND CAPPED E
IAI ISHARES U.S. BROKER-DEALERSETF
EWM ISHARES MSCI MALAYSIA ETF
PPA POWERSHARES ETF TRUST AEROSPACE & DEFENSE PORTFOLIO
DBO POWERSHARES DB OIL FUND
XAR SPDR S&P AEROSPACE AND DEFENSE FUND
BNO US BRENT OIL FUND LP
A2AMMR PUREFUNDS ISE MOBILE PAYMENTS ETF
SCZ ISHARES MSCI EAFE SMALL-CAP ET
IHF ISHARES U.S. HEALTHCARE PROVID
EPU ISHARES MSCI ALL PERU CAPPED E
ENOR ISHARES MSCI NORWAY CAPPED ETF
EWI BLACKROCK INSTITUTIONAL TRUST COMPANY N.A.
EWU POWERSHARES DB COMMODITY INDEX FUND
DBC POWERSHARES DB US DOLLAR INDEX BULLISH FUND
UUP SPDR S&P OIL & GAS EXPLORATION ETF
- Dave Nicoski
- Ross LaDuke
Vermilion ETF Pathfinder: Actionable ETF research & Ideas
Market remains indecisive • Outlook and breadth indicators are mixed: Last week's retest of the S&P 500's 200-day moving average has held, a critical support level, but a long-term breadth indicator has shown deterioration. That is, during the recent retest, a higher percentage of S&P 500 constituents closed below their respective 200-day moving average... see below. Other indicators such as the Discretionary/Staples ratio, Advance-Decline lines, and the percentage of stocks above their 50-da...
XLB MATERIALS SELECT SECTOR SPDR FUND
EEM ISHARES MSCI EMERGING MARKETS ETF
EWZ ISHARES MSCI BRAZIL CAPPED INDEX FUND
EWO ISHARES MSCI AUSTRIA CAPPED ET
ECH ISHARES MSCI CHILE CAPPED ETF
EWY ISHARES MSCI SOUTH KOREA CAPPED INDEX FUND
ITA ISHARES U.S. AEROSPACE & DEFENSE ETF
MCHI.. ISHARES MSCI CHN
XLV SELECT SECTOR SPDR-HEALTH CARE
XLP SELECT SECTOR SPDR-CONSUMER STAPLES
XLY SELECT SECTOR SPDR-CONSUMER DISCRETIONARY
XLE SELECT SECTOR SPDR-ENERGY
XLF SELECT SECTOR SPDR-FINANCIAL
XLI SELECT SECTOR SPDR-INDUSTRIAL
XLK SELECT SECTOR SPDR-TECHNOLOGY
XLRE REAL ESTATE SPDR
XLU SELECT SECTOR SPDR-UTILITIES
THD. ISHARES MSCI THAILAND CAPPED E
EZA ISHARES MSCI SOUTH AFRICA ETF
IYT ISHARES TRANSPORTATION AVERAGE ETF
SOXX ISHARES PHLX SEMICONDUCTOR ETF
ENZL ISHARES MSCI NEW ZEALAND CAPPE
ERUS BLACKROCK INSTITUTIONAL TRUST COMPANY N.A.
XTN SPDR S&P TRANSPORTATION ETF
SMH MARKET VECTORS SMEICONDOUCTOR ETF
CUT GUGGENHEIM MSCI GLOBAL TIMBER
EFA ISHARES TRUST MSCI EAFE INDEX FUND
EWM ISHARES MSCI MALAYSIA ETF
PPA POWERSHARES ETF TRUST AEROSPACE & DEFENSE PORTFOLIO
DBO POWERSHARES DB OIL FUND
XAR SPDR S&P AEROSPACE AND DEFENSE FUND
BNO US BRENT OIL FUND LP
EGPT MARKET VECTORS EGYPT INDEX
FBT FIRST TRUST NYSE ARCA BIOTECHNOLOGY INDEX FUND
ARGT GLOBAL X FTSE ARGENTINA 20 ETF
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