This Powerhouse ETF Offers Access To Tech Strength
Chris Kimble | Aug 03, 2020 09:24AM ET
Tech has been the place to be during the COVID-19 crisis. Investors Business Daily recently highlighted how one can own the strongest of the strong by just owning one ETF.
The chart below looks at the First Trust Dorsey Wright Focus 5 ETF (NASDAQ:FV), which reflects that it is attempting a bullish breakout while creating higher lows over the past 6-years.
The $2.1 billion fund tracks the Dorsey Wright Focus Five Index, which provides access to five First Trust sector and industry ETFs. Dorsey Wright & Associates selects the funds based on relative price momentum, then weights the components equally. It could be termed a fund of funds.
FV is testing a very bullish breakout level this week. If FV breaks above line (1), look for upside momentum to continue for the strongest of the strong!
Full Disclosure: One of the top 5 holdings of this ETF FDN is currently owned by members, due to an upside breakout back in May.
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