We certainly don’t need to tell any of our readers what a bad week it was ETF investors. All 11 of our Caution Arrows moved to Red and three of our Green Arrows went directly to Red, Downtrend, Arrows. Of the 30 ETFs we follow there is only one Green Arrow (GLD), and three Yellow Arrows (DVY, SDY and VYM).
We did provide a slight benefit to our readers as most of our Decline Limit Prices were hit about half way through the loss for the week. At the end of the week we did not have to determine whether or not we would continue to try and ride this decline out or we would view this as a sign from market participants. As always, we let the market tell us what to do, and it told us the Trend of almost all of our ETFs had changed to Downtrend.
We are now biding our time and waiting for the signal to reenter the market. Except of course for GLD, DVY, SDY and VYM, which are still in Uptrends.
