Dangerous Break At Key Area For MOMO Stocks. Flashing Danger! If you want to buy the DIP! You must first sell the RIP! Otherwise, you can't buy anything.
In the IBD ranking, NYSE:ARW is number 9 in its industry. While NASDAQ:TRNS is number one, which already made the breakout and has a +20%. Since I missed that move I´m focusing on SET:ARROW . The electronics parts distributor has made 3 higher lows and shows a pivot buy above $123.50. With a stop loss at $118.27, my target sell will be above $138. I´ll be...
Good morning traders, today I have a chart and technical analysis of our favorite ETF, $MTUM! I would like to preface this by stating all green lines represent supports as well as al red lines represent resistances MTUM has had quite the significant first half of 2021, and I believe due to the following that we are in for more. Recently, at the beginning...
Equal weight vs. Cap weight S&P 500 Quality vs. MOMO Smallcaps vs. Tech Value vs. Growth ( S&P 500 ) Topics of conversation all year long...expecting this to continue...
MTUM is the ETF ticker which tracks momentum. The pink lines show a megaphone pattern, which is bearish when tilted up. education.howthemarketworks.com The inner white trendlines of the megaphone show price hitting the angled resistance. The angled resistance crosses the current white price trendline on 12/13. Going back in history with MTUM, inside the megaphone...
If MTUM is a momentum based indicator ETF, and is related to SPY, then the following patterns would confirm SP500 bearish correction is coming. MTUM is the iShares ETF "Exposure to large- and mid-cap U.S. stocks exhibiting relatively higher price momentum" www.ishares.com In the pattern we see THERE IS NO MOMENTUM MTUM pattern has megaphone top. Tilted up...
Looks like MTUM is out of momentum. This contributes and confirms that SPY should be pulling back. MTUM and SPY are correlated. Daily view shows megaphone top. (or Broadening Top thepatternsite.com) Megaphone Top can breakout either direction. Given the tilt of this megaphone, I feel the price is falling backwards against momentum. Since the slope is too steep,...
It seems like increasingly MTUM stocks are underperforming VLUE stocks. Furthermore, this underperformance correlates increasingly negatively to SPY performance. I don't really know what this means.
Shortly before a significant drop in SPY, and after a period of high correlation, the correlation between SPY and MTUM (Momentum stock index) seems to drop below .50. 4/5 cases there is a small to medium drop. The green arrow indicates a case where this pattern predicts a move down, but instead there is a move up. Based on this data I have concluded that it is...
MTUM weekly is one that I will be watching this week. Momentum names have been well bid so see if this breakout holds. Could give us some idea about the direction of the market overall.
Momentum testing resistance here Very interesting what happens here this week. Indicators showing sideways. Possible consolidation under resistance.