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Adios, Q2………

This is a syndicated repost courtesy of Slope of Hope. To view original, click here. Reposted with permission.

Seriously, this quarter sucked out loud, (for the bears, at least, in case there are any left) and I’m glad it’s over. Here’s to a Q3 which resembles Q1 much closer than Q2. Honestly! Blech!

Quite plainly, all this breathless chatter about $170 billion in equities being dumped today for “re-balancing” didn’t mean dick.

Here are some quarterly charts of major ETFs:

Right up against the broken trendline
Bounce right up to the horizontal
Incredible strength, traversing the entire width of the channel
Pretty much undid the damage from Q1
Mirror image!
Another homebuilder fund with the same mirror image
Miners are really starting to rock! (Right on TNRev!)
Gold is looking great!
Silver is extremely close to a potential bullish trendline break
Semiconductors have been an important part of NASDAQ strength
Retail still in a broad downtrend, but it unwound the damage from Q1

Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

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