After a disappointing 2022 it’s nice to start 2023 with a strong week for most of our ETFs. The only exceptions were two “growth” focused ETFs, IWF and VUG, which both were basically flat on the week and remain in downtrends.

The two European ETFs that moved to the Uptrend list this week were EFA and VGK. These two joined the group of value and small cap ETFs that moved to Uptrends late last year. We now have 11 of our 26 ETFs in Uptrends versus only 3 six weeks ago. This gives us hope that there will be some strength in the markets going forward.