Mid Week ETF Look

This slideshow requires JavaScript.

$SPY Trying to reclaim and hold channel here, think we do ultimately, bounced off small support today. Think we can push but consolidation is needed before hand.

$GDX Downtrend continues, broke the 50ema but some support here, think we do see and test and break shortly

$USO Testing the inverse h/s here, plus gap down, looking for a bounce short term but ultimately think we head lower as under all ema support

$IBB bouncing and holding 200sma today, we will need it to hold next few session or we will fall much lower. Big area!

Mid Week ETF Look

$SPY still riding the channel up, bullish as long as we hold , I think we pop off it soon once we break the recent highs, steady for now

$USO nice bounce off the 9.5 support, 13ema test now, expect slight pull back then con towards 50ema, I like this for a longer term bounce as oil finds support
$GDX popping into 13ema expect slight pullback then continuation into downtrend test, as long as gold holds this support GDX will continue to bounce, I do however believe the bounce will be short lived

$IBB pull into uptrend, expect bounce higher into the 13ema, the uptrend is very strong support so I do believe we hold it and retest the 300 spot eventually

MID WEEK ETF LOOK

This slideshow requires JavaScript.

Mid week Etf Look
$SPY holding top channel, think we bounce here and push up of the uptrend here. Holding up nicely

$USO on support I expect a bounce here from the big sell off, we are overdue for a bounce imo

$GDX has room down to the support however we may see a slight reversal from fed today

$IBB some room back to the 13ema, ww LABD into support level. Ultimately we will head higher imo

Mid Week ETF look

$SPY reclaimed the uptrend channel this week and broke out of downtrend, should push

$GDX bouncing off the 21.8 support for now. Will see if it can hold. Think we see small bounce shorterm before more downside. 

$IBB bounced off that uptrend as i thought, little extended here tho. I expect it to pull back in the short term (day or two) then continue up.

$USO Bouncing slightly w/ some support, Oil holding the 200sma for now so this should help USO assuming it holds it

ETF Mid Week Update

$SPY broke out of channel, will test 50ema support here, needs to hold or we will pull back more. I expect a bounce off the support

$USO pulling back to 11.07 support, I think it will hold and then push up and test the weekly 50ema level at 11.35 in the short term.

$GDX broke out of weekly dt and confirming currently. Looks like 200sma will be tested fairly soon to the upside.

$IBB looking bearish but sitting on support, we should pull back and test the up trend here until its able to break that small downtrend, I believe it will hold.