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I hope everyone is enjoying the long weekend. Let’s look at a few important ETFs.
The Mexico country fund has broken its uptrend and has steadfastly stayed beneath it for many months (in spite of continuing to slog higher). I believe a trend change is in place and a clear downtrend will begin soon.
I’ll just say again, the bearish-on-Bitcoin fund BITI is looking like a potentially amazing inverted head and shoulders bullish bottom.
Let’s review where exchange traded funds are right now. We start with the Dow Industrials, which is still bullishly configured. The uptrend from March 30 remains intact.
Precious metals were the hottest thing on the planet until early this year. Since then, they have fallen well out of favor, and I think it’s just going to get worse. Gold, shown below by way of GLD, seems poised to crack below a huge right triangle pattern.
