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What 5 Key ETFs Are Saying About the Market
The SPY has remained the strongest, but even it continues to struggle.
Brandon Perry    

This article was originally posted on the Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO+.

I keep trying to step back and see something positive in the market. About all I got, though, is that it is springtime in Austin, Texas, and gorgeous outside. In the markets, I see the following.
 
iShares Russell 2000 Index (NYSEARCA:IWM): Small caps are still in a series of lower highs and lower lows. Additionally, I see a retest failure of the 50-day moving average from underneath. This is decidedly bearish as the beta-off trade continues.

http://image.minyanville.com/assets/buzzbanter/charts/original/041014/BP_IWM_Chart_1397152359.png
Click to enlarge

SPDR KBW Bank ETF (NYSEARCA:KBE): Banks just did a nice head-and-shoulders breakdown and should fall for a bit more.

http://image.minyanville.com/assets/buzzbanter/charts/original/041014/KBE_BP_Chart_1397152350.png
Click to enlarge
 
SPDR Series Trust (NYSEARCA:XTN): Transports are doing their best to hold in, but they did have a false breakout and they are flirting with the 50-day moving average.
 
http://image.minyanville.com/assets/buzzbanter/charts/original/041014/BP_XTN_Chart_1397152374.png
Click to enlarge

SPDR S&P Retail ETF (NYSEARCA:XRT): Retail looks like it will come below the 200-day moving average with the 50-day moving average and the 200-day moving average very close to each other. This could be really bad if they cross and confirm the beginning of a bearish trend.

http://image.minyanville.com/assets/buzzbanter/charts/original/041014/BP_XRT_Chart_1397152367.png
Click to enlarge
 
SPDR S&P 500 ETF Trust (NYSEARCA:SPY): It is holding out as best it can, trying to stay above near-term resistance. If it breaks, we could easily see the intermediate trendline get tested, which is another several percentage points away. We are also way overdue for a 200-day moving average test.

http://image.minyanville.com/assets/buzzbanter/charts/original/041014/BP_SPY_Chart_1397152403.png
Click to enlarge
 
All this being said, I am going to continue to reduce risk today and get my firm's portfolios down to about 50% cash by the end of the day. This is a pretty aggressive bearish posture, considering how we are still above the 50-day moving average.
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Position in IWM
What 5 Key ETFs Are Saying About the Market
The SPY has remained the strongest, but even it continues to struggle.
Brandon Perry    

This article was originally posted on the Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO+.

I keep trying to step back and see something positive in the market. About all I got, though, is that it is springtime in Austin, Texas, and gorgeous outside. In the markets, I see the following.
 
iShares Russell 2000 Index (NYSEARCA:IWM): Small caps are still in a series of lower highs and lower lows. Additionally, I see a retest failure of the 50-day moving average from underneath. This is decidedly bearish as the beta-off trade continues.

http://image.minyanville.com/assets/buzzbanter/charts/original/041014/BP_IWM_Chart_1397152359.png
Click to enlarge

SPDR KBW Bank ETF (NYSEARCA:KBE): Banks just did a nice head-and-shoulders breakdown and should fall for a bit more.

http://image.minyanville.com/assets/buzzbanter/charts/original/041014/KBE_BP_Chart_1397152350.png
Click to enlarge
 
SPDR Series Trust (NYSEARCA:XTN): Transports are doing their best to hold in, but they did have a false breakout and they are flirting with the 50-day moving average.
 
http://image.minyanville.com/assets/buzzbanter/charts/original/041014/BP_XTN_Chart_1397152374.png
Click to enlarge

SPDR S&P Retail ETF (NYSEARCA:XRT): Retail looks like it will come below the 200-day moving average with the 50-day moving average and the 200-day moving average very close to each other. This could be really bad if they cross and confirm the beginning of a bearish trend.

http://image.minyanville.com/assets/buzzbanter/charts/original/041014/BP_XRT_Chart_1397152367.png
Click to enlarge
 
SPDR S&P 500 ETF Trust (NYSEARCA:SPY): It is holding out as best it can, trying to stay above near-term resistance. If it breaks, we could easily see the intermediate trendline get tested, which is another several percentage points away. We are also way overdue for a 200-day moving average test.

http://image.minyanville.com/assets/buzzbanter/charts/original/041014/BP_SPY_Chart_1397152403.png
Click to enlarge
 
All this being said, I am going to continue to reduce risk today and get my firm's portfolios down to about 50% cash by the end of the day. This is a pretty aggressive bearish posture, considering how we are still above the 50-day moving average.
< Previous
  • 1
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Position in IWM
More From Brandon Perry
What 5 Key ETFs Are Saying About the Market
The SPY has remained the strongest, but even it continues to struggle.
Brandon Perry    

This article was originally posted on the Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO+.

I keep trying to step back and see something positive in the market. About all I got, though, is that it is springtime in Austin, Texas, and gorgeous outside. In the markets, I see the following.
 
iShares Russell 2000 Index (NYSEARCA:IWM): Small caps are still in a series of lower highs and lower lows. Additionally, I see a retest failure of the 50-day moving average from underneath. This is decidedly bearish as the beta-off trade continues.

http://image.minyanville.com/assets/buzzbanter/charts/original/041014/BP_IWM_Chart_1397152359.png
Click to enlarge

SPDR KBW Bank ETF (NYSEARCA:KBE): Banks just did a nice head-and-shoulders breakdown and should fall for a bit more.

http://image.minyanville.com/assets/buzzbanter/charts/original/041014/KBE_BP_Chart_1397152350.png
Click to enlarge
 
SPDR Series Trust (NYSEARCA:XTN): Transports are doing their best to hold in, but they did have a false breakout and they are flirting with the 50-day moving average.
 
http://image.minyanville.com/assets/buzzbanter/charts/original/041014/BP_XTN_Chart_1397152374.png
Click to enlarge

SPDR S&P Retail ETF (NYSEARCA:XRT): Retail looks like it will come below the 200-day moving average with the 50-day moving average and the 200-day moving average very close to each other. This could be really bad if they cross and confirm the beginning of a bearish trend.

http://image.minyanville.com/assets/buzzbanter/charts/original/041014/BP_XRT_Chart_1397152367.png
Click to enlarge
 
SPDR S&P 500 ETF Trust (NYSEARCA:SPY): It is holding out as best it can, trying to stay above near-term resistance. If it breaks, we could easily see the intermediate trendline get tested, which is another several percentage points away. We are also way overdue for a 200-day moving average test.

http://image.minyanville.com/assets/buzzbanter/charts/original/041014/BP_SPY_Chart_1397152403.png
Click to enlarge
 
All this being said, I am going to continue to reduce risk today and get my firm's portfolios down to about 50% cash by the end of the day. This is a pretty aggressive bearish posture, considering how we are still above the 50-day moving average.
< Previous
  • 1
Next >
Position in IWM
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