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Unlocking ETF Trends: Weekly Market Review & MAXLIST Highlights – May 12, 2024

Look for those trading above their 50-day moving average and trending upwards. Breakouts from consolidation patterns like bases or cups with handles might signal buying opportunities. Strong buying volume is another positive sign.

Conversely, avoid weak spots. Steer clear of stocks and ETFs below their 50-day average and trending down. Frequent reversal bars with big price swings and heavy selling volume indicate caution. Be aware of resistance levels from previous highs that could be difficult to overcome.

Some examples: Positive signs include SPY (SPDR S&P 500), IWM (iShares Russell 2000), QQQ (Invesco QQQ Trust), NVDA (NVIDIA Corporation), and NVDA (Direxion Daily Semiconductor Bull 3X Shares). XLU (SPDR Utilities Sector ETF) and XLE (Energy Select Sector SPDR Fund) are considered neutral, while USO (United States Oil Fund), SMH (VanEck Semiconductor ETF), and BIDU (Baidu, Inc.) show weakness.

Walker recommends looking at both daily and weekly charts for confirmation. Patience is key – wait for good opportunities in a strong market. Use stop-loss orders to manage risk, and remember, this is for educational purposes only. Do your own research before making any investment decisions.

ETFs on our list: ARKG, ARKK, ARKW, BBH, CLOU, ERX, FDN, FFTY, GDX, GDXJ, GLD, HACK, IBB, IBUY, IGV, IHI, IJH, ITB, IVW, JETS, KRE, MDY, OIH, PSJ, QLD, QQQ, SKYY, SLV, SLX, SMH, SOXL, SPY, SSO, TAN, TNA, USO, XAR, XBI, XEC, XHB, XLB, XLK, XOP, XLC, XLE, XLF, XLI, XLP, XLU, XLY, XME, XRT, and XSW. Scanning these ETFs to uncover strength helps us tune in to specific industry groups and sectors.

The MAXLIST Review analyzes the performance of the following companies: AAPL, AMZN, BABA, BIDU, GOOGL, GS, MA, META, MSFT, NFLX, NVDA, SQ and TSLA. We evaluate their strengths and weaknesses in the market and identify the opportunities and threats they face. The MAXLIST consists of leading and influential businesses that have the potential to generate significant returns


Always – Always – Always conduct your own review before initiating any trades. Never simply take our word for it; not only do mistakes happen, but our risk tolerance may not be the same as yours. Never treat the Key List as a “buy list” or a tip service. We are first and foremost an educational service; please always do your own research and trade with care!

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