ETF Screener: Picking Up the Pieces of Silver
As we analyzed all the ETF charts this week, we saw one disaster after another. So much damage on so many charts, it makes us think about all the pictures you see after a hurricane, tornado or earthquake. You see stuff just thrown around everywhere and it’s all out of place. That’s what just about 90% of the charts we reviewed looked like. Much like the repair after a natural disaster, we believe it’s going to take a long time to fix all the damage that has been done.
According to our Technical Analysis, one chart that may be ready to be mined is silver. It appears to us that two silver ETFs should provide outperformance in the days and weeks ahead: iShares Silver Trust (SLV) and PowerShares DB Silver (DBS). As we will see below, agriculture also had a strong showing. When you see multiple buy signals in the same sector, the confirmation, and we are BIG fans of confirmation, of different charts agreeing usually means good thing ahead for investors.
Here are the rest of the sector carts we like and dislike:
BUY
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PowerShares DB Agriculture (DBA)
iPath DJ AIG Agriculture TR Sub-Idx ETN (JJA)
ELEMENTS MLCX Grains Index TR ETN (GRU)
United States Natural Gas (UNG)
HealthShares European Drugs (HRJ)
SELL
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First Trust Financials AlphaDEX (FXO)
iShares Dow Jones US Healthcare Provider (IHF)
First Trust ISE Water (FIW)
Internet Architecture HOLDRs (IAH)
iShares S&P North Amer Tech-Software (IGV)
Internationally, we see only two charts that we like, iShares MSCI Chile Investable Market Index (ECH) and Claymore/Robeco Developed Intl Equity (EEN). Otherwise as we moved through bond ETFs, currency ETFs, index ETFs and style ETFs, all we saw was carnage.
Tags: best ETFs, Bond ETFs, Currency ETFs, ETF Charts, etfs, Index ETFs, International ETFs, Sector ETFs, stock charts, Style ETFs, top etfs
