• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Stock Six Leaders, but One Is Getting Real Frothy
Stock

Six Leaders, but One Is Getting Real Frothy

by May 10, 2024
by May 10, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

After sharp declines into mid April, stocks rebounded over the last three weeks and the S&P 500 SPDR (SPY) came within 1% of its March high. This March high acts as a benchmark high that chartists can use to compare performance. Stocks and ETFs trading above their March highs are leading and showing relative strength.

Current leaders include the Consumer Staples SPDR (XLP), Utilities SPDR (XLU), Aerospace & Defense ETF (ITA), KBW Bank ETF (KBWB), Copper Miners ETF (COPX), Infrastructure ETF (IFRA) and Water Resources ETF (PHO). The CandleGlance chart below shows all hitting new highs here in May. All six are also in clear uptrends.

The CandleGlance chart above shows XLU with a cup-with-handle breakout at 66 in late April. This signal was featured in ChartTrader on April 30th. Despite a strong extension on this breakout, XLU is a concern because it is trading some 13% above its 200-day SMA. The next chart shows XLU with the Percent Above MA (1,200,1) indicator. XLU was more than 13% above its 200-day SMA in February 2020 and April 2022 (dashed lines). This ETF is getting frothy and ripe for a correction. This indicator is part of the TIP Indicator-Edge Plugin for StockCharts ACP.

This week at TrendInvestorPro (ChartTrader) we featured tradable patterns in Vertex Pharma (VRTX), Union Pacific (UNP), the Home Construction ETF (ITB), Lennar (LEN) and CrowdStrike (CRWD).  We continue to monitor short-term breadth during this rebound and update our 14 indicator Composite Breadth Model every Tuesday. Click here to learn more.

//////////////////////////////////////////////////

You Might Also Like
  • Missed Out on Micron’s 112% Surge? Here’s Your Second Chance!
  • Market Trend Model Flashes Short-Term Bearish, What’s Next?
  • Trend Channels Help Define Stock Pullback Scenarios
  • GNG TV: Remaining Objective About Trading Rules is CRITICAL!
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Shareholders push casinos to reassess indoor smoking
next post
Relative Strength Screams Bullish for This Tech Stock

You may also like

Navigate Market Shifts Like a Pro: Utilize This Key Indicator...

April 25, 2025

Nvidia Stock: Why It’s Screaming a Spectacular Buy Signal

September 27, 2023

Investors are Pouring Into Gold Miners—Here’s What You Need to...

January 24, 2025

The Wisdom of Jesse Livermore, Part 8

June 22, 2023

Small-Caps Take Pole Position In Overbought Market

December 8, 2023

Top Ten Hidden Features of StockCharts, Features 6-10

November 10, 2023

Week Ahead: Ranged Movement Expected In The Truncated Week; These...

January 21, 2023

Three Ways Top Investors Track Sector Rotation

November 19, 2024

Ending The Sloppy Choppy Phase

May 13, 2023

The Key to the August Breakouts

September 6, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • How I Triple My Returns With 3x Leveraged ETFs!

      July 10, 2025
    • Want Faster, Lower Risk Trades? Use This Setup

      July 9, 2025
    • The Seasonality Trend Driving XLK and XLI to New Highs

      July 9, 2025
    • Small Caps Are Rotating In — Here’s Why It Matters

      July 9, 2025
    • Amazon extends Prime Day discounts to 4 days as retailers weigh tariffs and price increases

      July 9, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,630 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,919 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,607 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,576 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,449 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,167)
    • Investing (538)
    • Stock (2,661)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • How I Triple My Returns With 3x Leveraged ETFs!

      July 10, 2025
    • Want Faster, Lower Risk Trades? Use This Setup

      July 9, 2025
    • The Seasonality Trend Driving XLK and XLI to New Highs

      July 9, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,167)
    • Investing (538)
    • Stock (2,661)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    How Market Breadth Indicators Can Lead...

    October 4, 2023

    Hot Jobs Data Sends Stock Market...

    January 5, 2024

    S&P 500 Approaches 100-Day Moving Average:...

    April 20, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here