11 ETF Charts Highlighting Potential Gap Reversals
Tim Knight | Jun 16, 2022 12:36AM ET
Last time we were starting a counter-trend rally, I presented a series of ETFs with some sensible target prices for resistance. I have done that below with a variety of, among other things, index and sector ETFs—iShares MSCI Eurozone ETF (NYSE:EZU), iShares Russell 2000 ETF (NYSE:IWM), iShares U.S. Real Estate ETF (NYSE:IYR), SPDR® S&P Midcap 400 ETF Trust (NYSE:MDY), iShares S&P 100 ETF (NYSE:OEF), VanEck Semiconductor ETF (NASDAQ:SMH), SPDR® S&P 500 (NYSE:SPY), Financial Select Sector SPDR® Fund (NYSE:XLF), Industrial Select Sector SPDR® Fund (NYSE:XLI), XLV and SPDR® Dow Jones Industrial Average ETF Trust (NYSE:DIA)—and in every case I am simply highlighting the Friday/Monday price gap (AKA the low from Friday).
These are the key levels to watch for meaningful reversals, assuming this counter-trend bounce isn’t as insanely robust as some of my peers are saying (like 4400 on the /ES…….)
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