Weekly Update

March 31, 2018

 

Welcome to the Bollinger Bands Letter Weekly Update for Saturday March 31st, 2018.

 

The FAANG stocks have been drawing a lot of fire, much as you might expect after the super shiny performance they have turned in. Our FAANG index is now trading in the upper end of its prior range with a solid two day upside reversal in place. Ought to be able to make something of this.

 

I know that it is all cool, hip, professional and stylin' to be bearish at this market juncture, but I just don't see it. The stock market seems to be under a lot of pressure and holding up well. Market internals look nothing like what I'd expect if we were entering a bear market. If new lows start to expand, or the advance – decline lines turn down with price, I'll have to reconsider.

 

Speculators can take a trade here: On an up opening, long SPY or QQQ, with a stop under Wednesday's low. Target, attempt at new high.

 

There are no changes to the ETF portfolios this week.

 

The Value Line reentered the market Thursday. With the Value Line Geometric at 546.67, the Friday sell stop is 533.81

 

The ETF Program portfolio holdings:

Style (21): IUSG, 6, IWF, 7, IWO, 3.

Country (21): EWO, 3, EZA, 10, EWM, 1.

Sector (27): XLK, 9, IAU, 4, XLY, 8.

 

Details on our Allocations, Ice Breaker positions and ETF portfolios along with our Market Timing Chart Package can be found here:

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

 

Until next time, I wish you well.

 

John Bollinger, CFA, CMT

 

Copyright 2018 by Bollinger Capital Management, Inc.

 

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