Weekly Update

July 1, 2017

 

Welcome to the Bollinger Band Letter Hotline for Saturday the 1st of July 2017.

 

My, how time flies. I can hardly believe that half of 2017 is gone!

 

Our outlook for the stock market remains positive. The advance-decline line is still making new highs and NYSE 52-week new lows, rather than expanding as one might have expected given this week's market action, are actually declining. We are seeing a lot of industry-group and market-sector rotation, which is to say that we are in the midst of a rotational correction. We are also in the midst of a Squeeze, so we are looking for a volatility expansion. Given the technical condition of the market I expect a positive resolution to the current high-level consolidation.

 

There is a new set of market-timing charts available in the subscriber area of www.BollingerBands.com. Do have a look at the charts and let me know how the report might be improved. You are free to redistribute the PDF of charts, as the commentary and analysis will only appear in these hotlines and/or in the Bollinger Band Letter.

 

There are two changes to the ETF portfolios this week, both in the Sector Portfolio. Sell XLK and SOXX, and buy IXJ and IXG. That is a switch from semiconductors and technology to healthcare and financials.

 

There are no other changes for now.

 

Ice Breaker continues to hold a single position for each of the five monitored ETFs.

 

Have a happy and safe 4th!

 

Be careful out there!

 

The Value Line Plan is in the market with a Friday sell stop of 511.98.

 

The Value Line Geometric Index stands at 522.71.

 

The current allocations are:

70% US stocks, 10% International, 10% Yield and 10% Cash.

 

The ETF Program portfolio holdings:

Style (21): IUSG, 1, IWF, 4, IWB, 3.

Country (21): EWO, 1, EWP, 8, EWN, 5.

Sector (27): IXJ, 1, IGV, 7, IXG, 1.

 

Details on our Allocations, Ice Breaker and our ETF portfolios can always be found online:

https://www.bollingerbands.com/bb-letter/

 

Until next time, I wish you well.

 

John Bollinger, CFA, CMT

 

Copyright 2017 by Bollinger Capital Management

 

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