ETFs Up +50% Since March 31st
At quarter-end it is always interesting to see what some basic performance scans show up. Case in point, the ETFs which are up more than +50% since the closing price on March 31st:
The top performer has been the Emerging Markets Bull 3X (EDC) with a +102% gain over this time frame:
As we can see from its chart, we recently violated the ATR stop, got very oversold, and then bounced. But, we haven't take out those former highs and remain vulnerable for 1) another breakdown or 2) a lengthy sideways consolidation phase. If you look closely enough, you'll also see something I'm finding in quite a few charts of late - an ominous head-and-shoulders formation.
Either way, this one should be on your radar as it may serve as a good tell for the overall market.
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