ITOT: sellers regain control, MACD turns bearish
ITOT slips 0.6% as the weekly MACD turns bearish while the double bottom near 159 holds
ITOT: sellers regain control, MACD turns bearish
Our view last week
This week's ITOT technical analysis tells of another change of hands: after buyers dominated trading 7 days ago, sellers took back control, running 82% of volume and pulling the price down 1.5%. The fund still sits glued to its record highs, just 2% below, a level already tested 7 times over the last 10 weeks, while underneath, momentum keeps fading. The buy signal, running for 14 weeks, stays up 9.65%.
This week's summary
This week's ITOT technical analysis tells of a picture getting more complicated: sellers stay in charge with 76% of volume, and the weekly MACD has just crossed into bearish territory while momentum keeps fading for a third straight week. On the daily chart, though, ITOT - the ETF tracking the broad US stock market - carved out a clean double bottom in the 159 area with a 4% bounce: selling pressure hasn't yet found confirmation below that level. The buy signal, in its 15th week, stays up 8.96%.
IQS Phase
46
ordinary
Signal Strength
35
medium · weak
Sizing
REDUCED
Ranking
#97 / 124
US stocks in progress
Trade P&L %
+8.96%
from signal to today
Rank position
ranks 97th among the 124 Longs already running for US stocks in our ranking, with a signal strength of 35 out of 100.
Sector context
SectorETF Broad
Benchmark ETF—
Sector regime
Performanceweekly coming soon · monthly coming soon
ITOT belongs to the etf broad sector (reference ETF ).
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