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10 ETFs - Gaps And All

By Tim KnightETFsJun 23, 2022 01:12AM ET
www.investing.com/analysis/10-etfs--gaps-and-all-200626163
10 ETFs - Gaps And All
By Tim Knight   |  Jun 23, 2022 01:12AM ET
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Below are ten ETFs. In the caption for each, I’ve made some remarks. As always, click on any chart for a screen-filling version of it.

1. ARK Gen Revolution ETF

ARK Genomic Revolution ETF (NYSE:ARKG)

ARKG ETF Chart
ARKG ETF Chart

Cathie’s wreck of a fund did a perfect gap fill Wednesday. Just perfect. Hopefully, this is it.

2. Invesco DB Commodity Index Tracking Fund

(NYSE:DBC)

DBC Chart
DBC Chart

Commodities have a new gap, and I suspect we’re going to see weakness start to latch in.

3. Dow Jones ETF

SPDR® Dow Jones Industrial Average ETF Trust (NYSE:DIA)

DIA Chart
DIA Chart

There are two gaps, just like every other financial instrument on the planet, neither of which has been filled yet. And they may never be filled. I got out of this long Tuesday (very intentionally, and very consciously too soon).

There’s absolutely an opportunity for it to go higher. Whether zero, one, or two gaps or filled, I have every confidence it won’t matter in the end.

4. Small Caps ETF

iShares Russell 2000 ETF (NYSE:IWM)

IWM Chart
IWM Chart

The small caps are stuck at precisely the Fibonacci Retracement level. If I can have a vote, I’d like it to break to the downside. Thanks.

5. Real Estate ETF

iShares U.S. Real Estate ETF (NYSE:IYR)

IYR Chart
IYR Chart

Real estate has almost sealed its gap up. This is a key item to watch for the market overall.

6. S&P 100 ETF

iShares S&P 100 ETF (NYSE:OEF)

OEF Chart
OEF Chart

The S&P 100 fund is almost very close to its price gap, and it’s done a bit of damage to its long-term supporting trendline.

7. Qs ETF

Invesco QQQ Trust (NASDAQ:QQQ)

QQQ Chart
QQQ Chart

8. S&P 500 ETF

SPDR® S&P 500 (NYSE:SPY)

SPY Chart
SPY Chart

This is the granddaddy of them all, of course. Same deal. Two gaps. Will either be filled? God knows. Maybe even he doesn’t. Won’t matter.

9. Oil ETF

United States Oil Fund, LP (NYSE:USO)

USO Chart
USO Chart

As I predicted repeatedly, energy was hosed. The peak is in. The fact that government nimrods are running around screeching about what to do just proves the point.

The peak is past. Crude oil is going to be in a bear market for a long time.

10.  S&P Oil & Gas Exploration & Production ETF

SPDR® S&P Oil & Gas Exploration & Production ETF (NYSE:XOP)

XOP Chart
XOP Chart

Energy stocks are either going to bounce since they are so oversold, or the fracture of the trendline simply illustrates energy stocks are so weak that they’re going to go into a free-fall.

I took profits on most energy positions, so that pretty much guarantees the free-fall scenario.

10 ETFs - Gaps And All
 

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10 ETFs - Gaps And All

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