Wednesday, June 17, 2015

Market Report: EEM, EWZ, IBB, IYR, SMH, TLT, VGK, XLF, XLK, XLV, XTN

I am inaugurating a new section on my blog called "The Market Report." This new section will cover major ETF indexes like biotechnology, emerging markets and healthcare. With this new section I will be able to provide more coverage to my readers but will also allow you to take advantage of triple leveraged ETF's.

Biotechnology: IBB
  • IBB is listed as a short/sell.
  • I've been short a long time on this and it's gone nowhere. Momentum remains above zero however it has been slowly declining over time. 
  • A bearish rising wedge has been produced and a support line is approaching over the next two weeks (blue dotted line).
  • The EMA's look poised to cross-over, too.

Brazil: EWZ
  • EWZ is listed as a speculative long/buy.
  • We only have two hits on the lower support line so it does suggest upward movement and my KST and PMO indicators suggest the same but something still doesn't feel right.  

Emerging Markets: EEM
  • EEM is listed as a neutral.
  • We have had a very strong decline in EEM starting back in late April and now we find ourselves at the final support line. I think it's asking a little too much for it to simply breakdown here so perhaps an enfeebled bounce beforehand is what will happen.
  • RSI looks like it is putting in a higher low indicating a possible rise from here. 

Europe: VGK
  • VGK is listed as a strong short/sell.
  • The bearish wedge broke down and now we find ourselves hovering above the final support line. Does anyone actually think a resolution to the Hellenic debacle is going to happen?

Financial Sector: XLF
  • XLF is listed as a long/buy.
  • Currently not a great place to buy in as the EMA(9) and EMA(4) are quite detached from the EMA(13) and EMA(34).
  • PMO and KST have all crossed bullishly over.

Healthcare: XLV
  • XLV is listed as a short/sell.
  • XLV has also formed a bearish wedge and has failed to breakout above $75.75 three times before.
  • Please be aware of the blue dotted lines as resistance levels.

India: PIN
  • PIN is listed as a strong long/buy.
  • A strong bounce off the final blue support line was seen on 12th of June and now headway is being made towards the final resistance line of the red descending channel.

Real Estate: IYR
  • IYR is listed as a speculative long/buy.
  • A bullish declining wedge has emerged. If interest rates are rising this is bullish for real estate.

Russia: RSX
  • RSX is a speculative long/buy.
  • The red channel appears to be in control but emerging market fundamentals look really good at the moment.

Semiconductors: SMH
  • Listed as a speculaitve short/sell.
  • EMA's have bearishly crossed over and the breakdown from a bearish rising wedge is also evident.

Technology: XLK
  • XLK is listed as a speculative short/sell.

Transportation: XTN
  • XTN is listed as a short/sell.
  • The red declining channel is firmly in control and it appears poised to break below the middle blue support line.
  • News from today's events should provide more direction.

U.S. Treasuries: TLT
  • TLT is listed a speculative long/buy.
  • The sell-off in treasuries is a little over done at the moment. A bullish declining wedge has appeared and EMA's appear poised to crossover.

Jakob Richardson © 2015