ETF Update for Monday April 2

The 240 min. chart of IWM, iShares Russell 2000 index, is very interesting. We have come down from the uptrend line resistance which just happened to be where the .76 fib. level was. Now we are at daily, 240, and 60 min. support. It looks to me that we are setting up for another move up, but I am also aware of the resistance. I need to see more price deterioration to start thinking short.

The 60 min. chart of IWM shows the pullback to the 200 moving average support and the .38 fib. support level. If price can get above the trend line and the moving averages cross up I would look to go long some where around 79.79 with a profit target of 82.45.

In my previous post, I suggested going long SPY on a break of the downtrend line at support here. Price did break the trend line, but shot back down on the news about trade with China. I personally did not make the trade because I was not at my computer for most of the day, if I did take the trade, I probably would have been stopped out. It was a very volatile day that was hard to peg where price was heading.

Still long EEM, still acting o.k., stop loss is at 113.39.

ETF update for Friday March 30

SPY 60 min. chart shows a double bottom at daily moving average support. Would go long on a break of downtrend line around 142.47.

SPY has pulled back to moving average support and is in better shape then the Dow and Nasdaq. The downtrend line could hold price back on any advance and the stochastics are rolling over from overbought.

EEM, iShares Emrg. Mkts. Index, pulled back to moving average support, see next chart for trade execution.

Went long EEM at 116.47, stop loss is under support at 113.39(red line). The trigger was the break of downtrend line and moving average cross.

Stopped out of GLD for a .37 loss.

ETF Update for March 29

IWM, iShares Russell 2000 index, is right at support on the daily, 240 min. and 60 min. charts. Looking to go long around 79.90

Stopped out of SPY at 141.91 for a loss of $1.61. I did follow my trading plan of buying a pullback to support, price did not move higher and I was stopped out at my predetermined stop loss. On to the next trade.

ETF update for Wednesday March 28

On the index ETF's, price is being pinched between moving average support and the downtrend line that I have put on the chart. I would go long above the trend line and short on a breakdown under moving average support. The 60 min. charts look a little shaky, but the 240 min. charts still hold good support areas.

Still long GLD from 65.74, price is still above moving average support.

Still long SPY from 143.52, price has come down a little, still o.k. until price goes below 141.60.

ETF update for Tuesday March 27

SPY - Did pullback to it's daily moving average support, which all the index ETF's did. Went long at 143.52, the trigger was a moving average crossover on the 15 min. chart.

GLD - Streetracks Gold, did pullback to moving average support around 65, which triggered a long(see next chart).

GLD -Streetracks Gold, trend did turn bullish on 60 min. chart. Went long at 65.71-74, a little before the price I highlighted in my prevous post. My initial stop loss is at 64.88, which is below support.

FXI - The daily chart shows that the moving averages have crossed up and price has moved through the down trend line, unfortunatly I was stopped out of my position(see next chart).

The 60 min. chart shows my entry and exit. I exited my position before my stop loss was hit Monday morning. Everything was selling off hard and I made a decision to get out while I still had a small loss. As it tuned out was maybe a mistake, but one I can live with. My loss was $1.43 and the first one since I started this blog on February 15th.

ETF Update for Monday March 26

GLD, Streettracks Gold index, did pullback to moving average support around 65. Looking for a long trigger on the 60 min. chart to go long.

The 60 min. chart of GLD shows the pullback. A move up through the downtrend line around 65.90 would have the moving averages turned up and would be a good entry point.

Most all index ETF's are extended on the long side, I am waiting for pullbacks for entries. I will post them here when or if that does happen.

ETF update for Friday March 23

GLD, StreetTracks Gold Index, has turned bullish form the bounce off it's up trend line. Waiting for a pullback to around 65 for a long entry.

EPP, iShares Pacific index ex-japan, is near resistance at 134.82. Nothing specific to do right now, watching to see if price is going to breakdown for a possible short.