On The Radar

On the radar for this week are bear market ETFs being that the market is overbought and has been for the past three weeks. The bullish percentage indices for the Nasdaq, NYSE and S&P 500 are all in over bought territory. The highest the bullish percentage index has ever been on the NYSE before turning to the downside was 79.03 back in 2004. As of the close of trading on Friday, the bullish percentage index ended the week at 67.90. There is a slight possibility that we way may move higher but on then again we may see a huge pullback.

Historically between the months of April through October the stock market normally declines before heading higher. The exchange traded funds to pay very close attention to are the (EEV) Emerging Markets Short, (EWV) Ultra Short MSCI Japan, (DXD) Ultra Short Dow 30, (QID) Ultra Short QQQ, (SRS) Real Estate Short, (SDS) Ultra Short S&P 500, (EWV) Ultra Short MSCI Japan, and (DUG) Ultra Short Oil & Gas to name a few.