An other up and down week with Little change. US markets held up better and the defensive sectors did well. Silver and gold may have settled down and may present a buying opportunity soon.
Let's review:
The Trend Advantage system gave a sell signal 5/3 and then a buy for the open 5/11. If you had blindly bought on the open you would have been sorry for the markets had a big down day. If you had waiting until 10:15 am you would have seen 5/11 was not a day to buy long and the buy signal was canceled. The ETF QID purchased 5/4 has to gain at the close of Friday but not much as this has been a choppy market.
I found a website that listed all the newly created ETFs on the market since the first of the year. I enjoyed exploring them and found some interesting. In the end I came back to my system with trading the highest volume index ETFs because the back testing shows you make money with these boring index ETF. With a new ETF you can not back test 3 or 5 years back. Stick with what works as in QLD/QID, SSO/SDS, UWM/TWM and other high volume major index ETFs.
Happy Trading
The Trend Advantage.
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