Buyers retake control on ITOT
ITOT gains 1% as buyers retake control after weeks of selling
Buyers retake control on ITOT
Our view last week
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%.
This week's summary
Buyers retake control of ITOT, the ETF tracking the broad US stock market, this week: 90% of volume flowed to the buy side, a sharp reversal from last week's 76% seller dominance. The bounce came off the daily EMA20, in the 163 area, with a 2% rebound, but under the surface momentum is fading and the weekly MACD has slipped below its signal line: a technical picture in shaky balance. The buy signal, in its 16th week, is now up 10.04%.
IQS Phase
56
ordinary
Signal Strength
35
medium · weak
Sizing
REDUCED
Ranking
#86 / 120
US stocks in progress
Trade P&L %
+10.04%
from signal to date, no stop loss
Rank position
ranks 86th among the 120 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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