OEF: the sell signal regains its stride, week 4
OEF slips 1.5% as the sell signal returns to making lower lows
OEF: the sell signal regains its stride, week 4
Our view last week
The iShares S&P 100 ETF (OEF) closed the week up 1.7%, with a clean double bottom in the 356 area and a 5% rebound: on the daily chart buyers control 94.9% of volume. The Sell signal keeps losing ground — strength drops to 2 out of 100, a decline running on fumes — while the fund stays 34.7% above its 200-week average, hugging its highs. Weekly technical analysis: trading not recommended.
This week's summary
OEF, the ETF tracking the 100 largest US stocks in the S&P 100, closes the week down 1.5% after a double bottom in the 356 area and an intermediate 5% rebound. The sell signal, which last week looked all but over, is moving again: signal strength climbs to 28 out of 100, with the decline back to making lower lows. The fund still sits 32.4% above its 200-week average: OEF's weekly technical analysis confirms trading is not recommended.
IQS Phase
58
ordinary
Signal Strength
28
decline starting to make lower lows
Sizing
MINIMUM
Ranking
#92 / 140
US stocks sell signals
Trade P&L %
-2.61%
from signal to today
restricted Platinum content