Comprehensive S&P 500 Update

The latest S&P 500 all-time high clocked in at 2,440 as the S&P 500 continues to plow over bearish forecasts

Will the S&P 500 in particular, and stocks in general, continue to slog higher?

Here is our comprehensive forecast based on the “four stock market engines:”

  • Supply & demand (liquidity)
  • Technical analysis
  • Investor sentiment
  • Seasonalities and cycles

Supply & Demand

We first unveiled our favorite liquidity indicator in 2014. This indicator correctly foreshadowed the 1987, 2000 and 2007 market top and – aside from a timely caution signal in 2015 – persistently pointed towards continued bull market gains.

For readers of our free website, we’ve dubbed this indicator ‘secret sauce.’ Why, and how this indicator is used is explained here.

In short, major market tops have been preceded by bearish divergences (S&P 500 rallies to new all-time highs, secret sauce does not).

Throughout 2016 and 2017 however, there’ve only been bullish divergences (secret sauce rallies to new all-time highs, but the S&P 500 lags behind). The last four times this happened was on April 30, and April 9, 2017, September 22, and April 16, 2016 (see green arrows).

Each time the Profit Radar Report stated that: “[Secret sauce] is already at new highs. The S&P 500 will soon follow.”

Secret sauce just confirmed the latest S&P 500 high, which means a major market top is still many months away (this doesn’t mean we can’t see a correction though).

Technical Analysis

The most exotic ‘tool in the technical analysis box’ has also been the most accurate: Elliott Wave Theory. Therefore we will focus on Elliott Wave Theory for this update.

The charts below were initially published in the August 28, 2016, Profit Radar Report, and have been our roadmap ever since as the S&P moves toward 2,500.

Barron’s rates iSPYETF as “trader with a good track record” and Investor’s Bussines Daily says “When Simon says, the market listens.” Find out why Barron’s and IBD endorse Simon Maierhofer’s Profit Radar Report.

We have made some minor adjustments recently, which place the S&P near the beginning of a more pronounced, choppy correction (see ‘we are here’ on top graph). This correction would be labeled as wave 4 (likely intermediate degree).

Despite rising prices, there has been a measure of internal weakness (see chart below). There have been no strong up days (90% days, where 90% or more of volume flows into advancing stocks). The percentage of stocks above their 50-day SMA is also lagging.

This is compatible with a rally that’s nearing a (temporary) point of exhaustion.

Investor Sentiment

The chart below provides a long-term comparison between investor sentiment near the 2007 high and today.

In short, investors are not as euphoric about stocks today as they were in late 2007. Based on investor sentiment, stocks are not at a major market top.

In fact, stocks may still benefit from the pessimistic extremes seen in January/February 2016 (when the S&P traded below 1,900).

The January 29, 2016 Profit Radar Report stated that: “Sentiment turned pessimistic enough to become a bullish tailwind for the coming months.”

Seasonality & Cycles

Cycles project weakness later on in 2017 and seasonality is hitting a soft spot until September/October.

Conclusion

Once the S&P 500 reaches our up side target we will be looking for a more pronounced correction, but not the end of this bull market.

Continuous updates and actual buy sell recommendations (we haven’t had a losing trade since June 2015) are provided via the Profit Radar Report.

Simon Maierhofer is the founder of iSPYETF and the publisher of the Profit Radar Report. Barron’s rated iSPYETF as a “trader with a good track record” (click here for Barron’s profile of the Profit Radar Report). The Profit Radar Report presents complex market analysis (S&P 500, Dow Jones, gold, silver, euro and bonds) in an easy format. Technical analysis, sentiment indicators, seasonal patterns and common sense are all wrapped up into two or more easy-to-read weekly updates. All Profit Radar Report recommendations resulted in a 59.51% net gain in 2013, 17.59% in 2014, and 24.52% in 2015.

Follow Simon on Twitter @ iSPYETF or sign up for the FREE iSPYETF Newsletter to get actionable ETF trade ideas delivered for free.

 

Comprehensive S&P 500 Analysis Reveals Longevity of this Rally

The S&P 500 has soared almost 10% since Election Day. This move has been dubbed the Trump rally or Trump bump.

The media is quick to slap a label on an event (especially after the fact), but lest we forget that the media, analysts and pundits a) did not see a DJ Trump win and b) expected a market crash in the unlikely event of a DJ Trump win.

Key stock market indicators strongly suggested prior to the election that stocks would rally regardless of the election outcome (the four most powerful stock market indicators are discussed in detail here).

Here is what indicators said before the election, and what they are still telling us today:

Money Flow

The stock market is a supply and demand-based market place, that’s why money flow is one of the most important indicators. Falling demand will eventually be followed by falling prices and vice versa.

The September 25 Profit Radar Report published the chart below. The dark and light blue graphs make up our favorite money flow indicator (two versions of the same indicator). This indicator has correctly foreshadowed the 1987, 2000 and 2007 bear markets and projected higher prices since 2009 (except for a brief ‘caution’ signal in 2015). The indicator and its track record is discussed in detail here.

Out of respect for paying subscribers (who know the indicator’s real name), we will call this indicator ‘secret sauce.’

On September 22, the ‘secret sauce’ money flow indicator (blue graphs) rallied to new all-time highs even though the S&P 500 did not. This was to be longer-term bullish, because rising demand was to be followed by rising prices.

The percentage of stocks above their 50-day SMA (purple graphs) did not confirm the new ‘secret sauce’ highs. This suggested short-term weakness.

The September 25 Profit Radar Report concluded the following: “Longer-term: We are still looking for the S&P 500 to reach our long-standing up side target around 2,300. Short-term: We are waiting whether the S&P will break below 2,119 prior to moving higher.”

Investor Sentiment

Investors have been predominantly bearish throughout this bull market. Based on bearish investor sentiment (bullish for stocks), we never wavered from our position that a major market top is not visible.

For example, the Profit Radar Report’s 2016 S&P 500 Forecast stated back in January that: “Investor sentiment near the May 2015 all-time highs was not as euphoric as at prior tops and not bullish enough for a major market top.”

The January 29 Profit Radar Report, however, pointed out bearish sentiment extremes (bullish for stocks) and noted that: “The pessimistic extremes were relieved enough to allow for another drop lower in the coming days. A drop lower is not required, but would be a good buying opportunity if it happens.”

The buying opportunity appeared in February, when the S&P 500 dropped into the low 1,800s.

The most recent comprehensive sentiment update (November 27 Profit Radar Report) compared current sentiment with the 2015 S&P 500 highs (see chart below).

The conclusion: “On average, investors today are still not as bullish as one would expect at a major market top. This allows for, and suggests, further gains in the months to come.”

Technical Analysis

The August 28 Profit Radar Report showed three uber-bullish forward projections (shown here) and stated that: “At this point we don’t know the scope of any pullback, but EWT and the June breadth thrust suggest that any weakness will be bought (perhaps even furiously). We consider the longer-term up side potential to be significantly larger than the down side risk.”

The June breadth thrust is discussed in detail here: 2016 Bear Market Risk is Zero Based on this Rare but Consistent Pattern

A detailed technical analysis and Elliott Wave Theory-based outlook is available here: S&P 500 Update – Expect the Abnormal (the ‘abnormal’ refers to continuous gains despite overbought conditions).

Seasonality

S&P 500 seasonality is bullish for the entire fourth quarter into the New Year.

Conclusion

All important indicators pointed higher before the election. The question was only how much of a pullback and how deep of a shakeout move we’ll get prior to the melt up. “The question therefore is not if stocks will rally, but when they will rally” was the conclusion shared in this MarketWatch article.

An indicator-based investment approach is superior to a news-based approach.

Using multiple credible and time-tested indicators further enhances results, especially when all indicators point in the same direction (such as before the election).

The image below illustrates how the odds of a winning trade are improved by a multi-indicator approach.

This doesn’t guarantee a profitable trade, but Profit Radar Report subscribers rarely ever find themselves on the wrong side of the trade.

Short-term, the market is overbought and over-loved and may pull back, but the bullish longer-term factors present months ago (aside from sentiment) remain valid.

Continuous updates with actual buy/sell recommendation are available via the Profit Radar Report.

Simon Maierhofer is the founder of iSPYETF and the publisher of the Profit Radar Report. Barron’s rated iSPYETF as a “trader with a good track record” (click here for Barron’s profile of the Profit Radar Report). The Profit Radar Report presents complex market analysis (S&P 500, Dow Jones, gold, silver, euro and bonds) in an easy format. Technical analysis, sentiment indicators, seasonal patterns and common sense are all wrapped up into two or more easy-to-read weekly updates. All Profit Radar Report recommendations resulted in a 59.51% net gain in 2013, 17.59% in 2014, and 24.52% in 2015.

Follow Simon on Twitter @ iSPYETF or sign up for the FREE iSPYETF Newsletter to get actionable ETF trade ideas delivered for free.

 

S&P 500 Update – Expect the Abnormal?

Last week the S&P 500 almost reached the year-end target (2,220) given by the Profit Radar Report back in January. What’s next?

The S&P 500 is up 130 points since the beginning of the month, S&P 500 futures soared as much as 183 points.

Stocks are overbought, and under normal circumstances there should be a noteworthy pullback. But there is reason to expect the abnormal.

When Abnormal Becomes Reality

The August 28 Profit Radar Report published an uber-bullish Elliott Wave Theory-based projection. The Profit Radar Report’s forecasts are always built on multiple indicators, and this bullish projection was confirmed by liquidity, long-term investor sentiment and bullish year-end seasonality.

Barron’s rates iSPYETF as “trader with a good track record” and Investor’s Bussines Daily says “When Simon says, the market listens.” Find out why Barron’s and IBD endorse Simon Maierhofer’s Profit Radar Report.

The excerpt below is longer than usual, but it explains why an ‘abnormally’ strong rally was likely to develop. From the August 28 Profit Radar Report:

The two main reasons we want to buy in the foreseeable future is:

1) The breadth thrust off the June low (July 4 PRR)
2) Bullish Elliott Wave Theory potential

We never rely unduly on any one single indicator. It is noteworthy however, that the three most likely Elliott Wave Theory (EWT) interpretations are all bullish. The degree of bullishness varies, but according to EWT, more gains are ahead. The question is not if, but how much and for how long.

The first chart below shows conceptually where the S&P 500 is at relative to the three most likely EWT options along with the odds for each scenario.

The second chart provides a more detailed (yet basic) outline/labeling of EWT counts #1 (45% probability – light green) and #2 (35% probability – dark green).

What we are focused on for now is the most likely scope of any pullback. The down side risk for #1 is larger (around S&P 2,130 – 2,070 – see light green square) than for #2 (around S&P 2,150 – 2,130 – see dark green square).

No further detail is shown for the most bullish option, #3 which would translate into a few more years of bull market. At this point, we discount #3 (20% probability) because some cycles point to prolonged weakness starting in H2 2017.

Summary: At this point we don’t know the scope of any pullback, but EWT and the June breadth thrust suggest that any weakness will be bought (perhaps even furiously)We consider the longer-term up side potential to be significantly larger than the down side risk.

The anticipated pullback drew the S&P 500 to 2,084 (right inside the first target zone). Stocks haven’t looked back since.

The November 13 Profit Radar Report added that: “The DJIA and Russell 2000 ended the week overbought, which normally will cause a pullback. However, if the S&P is truly in a wave 3 advance, stocks will continue to plow higher without much letup.”

Overbought, But No Bearish Divergences

Unless you’re already on the bus, a momentum driven market is one of the hardest markets to get in (like jumping onto a moving bus), because it rarely stops.

At some point momentum will halt (which is sometimes followed by a nasty correction), but the question is when? The chart suggests to watch support at 2,190 – 2,200 (if lucky, we may even see 2,170 – 2,150).

Waves 3 (according to EWT) are generally strong and relentless moves. Stocks appear to be in such a third wave advance.

Many investors consider EWT hocus-pocus, and I can understand way. I’ve seen many horrid EWT interpretations cost investors a ton of money.

That’s why the Profit Radar Report never relies on any one single indicator. As of right now, the weight of evidence (not just EWT) points towards higher prices (with or without prior pullback). We go where the indicators take us.

Back in January, when the S&P traded below 1,900, our year-end target of 2,220 seemed outrageously bullish. As it turns out, it actually may not have been bullish enough.

Continuous updates with actual buy/sell recommendation (which help balance down side risk with the risk of missing out on the up side) are available via the Profit Radar Report.

Simon Maierhofer is the founder of iSPYETF and the publisher of the Profit Radar Report. Barron’s rated iSPYETF as a “trader with a good track record” (click here for Barron’s profile of the Profit Radar Report). The Profit Radar Report presents complex market analysis (S&P 500, Dow Jones, gold, silver, euro and bonds) in an easy format. Technical analysis, sentiment indicators, seasonal patterns and common sense are all wrapped up into two or more easy-to-read weekly updates. All Profit Radar Report recommendations resulted in a 59.51% net gain in 2013, 17.59% in 2014, and 24.52% in 2015.

Follow Simon on Twitter @ iSPYETF or sign up for the FREE iSPYETF Newsletter to get actionable ETF trade ideas delivered for free.

 

Are Gold and Silver Setting up for a Slingshot Move?

Gold and silver have been stuck in their respective trading range for three months.

How long the yawning continues remains to be seen, but a slingshot move would be a welcome change of pace. What is a slingshot move? It’s a powerful directional move preceded by a fakeout step.

The review below explains the potential slingshot setup:

The July 4 and July 7 Profit Radar Reports highlighted various conflicting indicators and decided that: “With both metals approaching our up side targets, we don’t want to chase trade.”

The chart below, published via the July 7 Profit Radar Report, shows two of the conflicting indicators for gold:

  • Investor Sentiment (commercial hedgers’ exposure – light blue graph): Bearish for gold
  • Seasonality (dark blue graph): Bullish for gold

Silver essentially suffered the same conflict and was nearing a resistance clusters.

The July 4 Profit Radar Report showed the chart below along with the following commentary:

Silver is overbought. In general, large spikes are followed by sideways trading or sizeable drops. Aggressive traders may find success shorting silver (corresponding ETF: ZSL).”

In hindsight it becomes obvious that bullish seasonality and bearish sentiment cancelled each other out, resulting in the three-month stalemate.

Some sort of a trading range is usually the result when our indicators are in conflict, that’s why we generally don’t trade during such periods (the Profit Radar Report’s last precious metals recommendation was to buy gold at 1,088 in November 2015).

The Slingshot Move

As the above charts show, gold and silver reached the low end of our up side targets. Gold and silver have been stair-stepping lower ever since (see updated charts below).

Our intention was to short gold and silver in their respective resistance areas. Unfortunately they never fully got there.

New Bear Market Lows?

The question now is whether the top is in or not?

The best-case scenario would be a swift rally into the red resistance zone (above 1,380 for gold, above 21.2 for silver). We’d consider this rally the slingshot move (fakeout rally before sizeable decline).

The rally to new recovery highs would get bulls excited just before a considerable down side reversal (and quite possibly a drop below $1,000/oz for gold).

However, the best-case scenario may not happen. Gold and silver as good as touched the bottom of our up side targets, which may be enough. A sizeable top may already be in place (watch green support areas).

The strategy for precious metals is to sell the bounces. Now we just need to figure out how big the bounces will be.

Continuous updates for gold and silver are available via the Profit Radar Report.

Simon Maierhofer is the founder of iSPYETF and the publisher of the Profit Radar Report. Barron’s rated iSPYETF as a “trader with a good track record” (click here for Barron’s profile of the Profit Radar Report). The Profit Radar Report presents complex market analysis (S&P 500, Dow Jones, gold, silver, euro and bonds) in an easy format. Technical analysis, sentiment indicators, seasonal patterns and common sense are all wrapped up into two or more easy-to-read weekly updates. All Profit Radar Report recommendations resulted in a 59.51% net gain in 2013, 17.59% in 2014, and 24.52% in 2015.

Follow Simon on Twitter @ iSPYETF or sign up for the FREE iSPYETF Newsletter to get actionable ETF trade ideas delivered for free.

 

Some Investor Sentiment Indicators Show Excessive Pessimism

There hasn’t been a truly noteworthy investor sentiment extreme since the January/February lows, when the Profit Radar Report recommended buying.

Barron’s rates the iSPYETF as a “trader with a good track record.” Click here for Barron’s assessment of the Profit Radar Report.

Last week saw some unusual sentiment readings.

Sunday’s (May 8) Profit Radar Report published the chart below and pointed out the following:

Some measures of sentiment are in unusually bearish territory. Unusual considering that the S&P just traded only 1% away from its all-time high! Shown below are the % of bullish investors (polled by AAII) and the CBOE equity put/call ratio.

The put/call ratio doesn’t have a perfect track record, but as the dashed red lines show, high readings mark some sort of low more often than not.”

In addition to these ‘odd’ sentiment readings, various indexes reached support levels.

This constellation led to the summary offered by the same Profit Radar Report:

As long as the bullish RSI divergence and support near 2,040 hold, odds favor either a bounce or rally to new recovery highs. We will be watching the open S&P chart gap at 2,079.12. Once/if the gap is closed, we’ll have to determine if this bounce has legs (new recovery highs) or if it is just a small bounce within a deeper correction.”

The S&P 500 is within striking distance of the open chart gap (2,079.12), we we’ll have to evaluate if this bounce ‘has legs’ or not.

Continued S&P 500 analysis is available via the Profit Radar Report.

Simon Maierhofer is the founder of iSPYETF and the publisher of the Profit Radar Report. Barron’s rated iSPYETF as a “trader with a good track record” (click here for Barron’s profile of the Profit Radar Report). The Profit Radar Report presents complex market analysis (S&P 500, Dow Jones, gold, silver, euro and bonds) in an easy format. Technical analysis, sentiment indicators, seasonal patterns and common sense are all wrapped up into two or more easy-to-read weekly updates. All Profit Radar Report recommendations resulted in a 59.51% net gain in 2013, 17.59% in 2014, and 24.52% in 2015.

Follow Simon on Twitter @ iSPYETF or sign up for the FREE iSPYETF Newsletter to get actionable ETF trade ideas delivered for free.

S&P 500 Update – Two Cookies Now?

My worst fear when I first started analyzing markets and publishing my research was FOMO. Fear Of Missing Out … on the next big move.

This was reflected in my market forecasts, which were either full speed forward (prices will soar) or full speed reverse (market will crash).

True, this kind of mentality helped me peg the 2007 top, and the March 2009 and October 2011 bottoms, but it takes more than an ‘all or nothing’ approach to succeed at investing.

Today I rely on dozens of indicators that fall into one of four categories: 1) Supply & demand 2) Technical Analysis 3) Investor Sentiment 4) Seasonality & Cycles.

Barron’s rates the iSPYETF as a “trader with a good track record.” Click here for Barron’s assessment of the Profit Radar Report.

The result is a more balanced, comprehensive and potent signal, along with the realization that the market may be stuck in neutral for a while.

There are times when indicators conflict and essentially cancel each other out. More often than not, trading during such times is like forcing the round peg through the proverbial square hole.

On Wednesday, May 4, the S&P 500 dropped to 2,046, which was also the March 17 high. In essence, the S&P 500 hasn’t gone anywhere for the last 33 trading days.

Looking back, it now makes sense why our indicators haven’t given us a S&P 500 signal (and why the Profit Radar Report hasn’t recommended a S&P 500 trade) since March 17 (when we closed out the S&P 500 position bought at 1,828).

Not Laziness, but Patience

It’s almost been a month since the last complimentary S&P 500 update (April 11: S&P 500 Stuck in Resistance Mud). It’s not because I’ve gotten lazy, but there just hasn’t been much to update.

The concluding comment of the last April 11 S&P update was that: “Our indicators stopped providing a cohesive directional signal when the S&P first hit 2,040. In hindsight, this explains the trading range since. Unfortunately, there is still no cohesive directional signal.

This is a ‘one cookie now, or two cookies later’ market where patience tends to be rewarded. More often than not, this means it’s best to sit on the sidelines. We will consider buying at lower prices or (short) selling at higher prices.”

S&P 500 Projection

Based on what signals we had to work with, the April 13 Profit Radar Report featured the following projection along with this comment:

Support at 2,040 held and the S&P 500 moved higher today. Looks like the short-term bullish wave 4/wave 5 scenario discussed on Sunday is in play. This means, that the S&P 500 is likely to continue a bit higher, before embarking upon a deeper (but temporary) correction.

The Elliott Wave Theory labels along with its implications (yellow lines) are drawn on the daily chart. A move to 2,100 – 2,115 would make the chart look more ‘proportional.’ Unless all the bearish divergences are erased, we anticipate a promising setup to go short around 2,100 – 2,115.”

Thus far, the S&P topped and reversed at 2,111.05 on April 20. It is possible that the S&P is following the projected yellow path.

However, there is support around 2,040, and another rally to new recovery highs before a deeper correction is possible. With or without another rally, we are nearing a deeper correction … and a potential ‘two cookie reward.’

Continued S&P 500 analysis is available via the Profit Radar Report.

Simon Maierhofer is the founder of iSPYETF and the publisher of the Profit Radar Report. Barron’s rated iSPYETF as a “trader with a good track record” (click here for Barron’s profile of the Profit Radar Report). The Profit Radar Report presents complex market analysis (S&P 500, Dow Jones, gold, silver, euro and bonds) in an easy format. Technical analysis, sentiment indicators, seasonal patterns and common sense are all wrapped up into two or more easy-to-read weekly updates. All Profit Radar Report recommendations resulted in a 59.51% net gain in 2013, 17.59% in 2014, and 24.52% in 2015.

Follow Simon on Twitter @ iSPYETF or sign up for the FREE iSPYETF Newsletter to get actionable ETF trade ideas delivered for free.

S&P 500 Forecast for Remainder of 2016

The full year S&P 500 forecast is my biggest project of the year, and quite frankly it’s kind of a thankless job. Why? It gives every critic a documented, black and white foundation for criticism.

It is impossible to predict a full year of stock market future, that’s why market forecasts are loaded with ‘ifs,’ “buts,’ and other ambiguities. Anyone attempting to predict the unpredictable is doomed to miss the mark.

That’s why no other newsletter (at least not that I’m aware of) publishes an actual full year S&P 500 chart projection. Accountability is an underrated (if not entirely ignored) concept on Wall Street. But, what’s the purpose of following many time-tested indicators if we don’t put them to work?

The 2016 S&P 500 Forecast was published on January 31, 2016 and is available to subscribers of the Profit Radar Report. Below is an excerpt of the 2016 S&P 500 Forecast (with some minor edits in consideration of paying subscribers).

Barron’s rates the iSPYETF as a “trader with a good track record.” Click here for Barron’s assessment of the Profit Radar Report.

At the time of publication, the S&P 500 traded in the mid 1,800s. One of the key questions addressed by the forecast was whether the May 2015 all-time high at S&P 2,134 marked the end of the bull market.

The S&P 500 Forecast is based on the four most powerful market-moving forces:

  • Supply & Demand
  • Technical Analysis
  • Investor Sentiment
  • Seasonality & Cycles

Supply & Demand

Technical Analysis – Support/Resistance Levels

There is Fibonacci support at 1,855 (Fibonacci projection level going back to 2002).

There is an open chart gap at 2,043.62 (just above Fibonacci resistance at 2,041). This is the bare minimum target for a Q1/Q2 rally.

Technical Analysis – Elliott Wave Theory

Investor Sentiment

Bull markets die of starvation. Just as a fire needs wood to burn, the stock market needs fresh buyers to move higher. Fully invested investors can only do one of two things: hold or sell. Neither action buoys price any higher.

Excessive optimism is an indication that buyers have become rare (because everyone who wants to buy has already bought). That’s why excessive optimism usually precedes a new bear market or sizeable correction. However, investor sentiment near the May 2015 all-time highs was not as euphoric as at prior tops.

Historically, sentiment around May 2015 was not bullish enough for a major market top.

What about current sentiment? Sentiment dropped towards extreme pessimism in January (some indicators triggered panic readings), which should provide a bullish tailwind for the weeks/months ahead.

Summary

The 2016 S&P 500 Forecast did not expect much down side following the January meltdown, but anticipated a market comeback with a ‘bare minimum up side target of 2,043.’

This target was already captured. What’s next? A short-term outlook is available here.

Continued updates are available via the Profit Radar Report. Barron’s graded iSPYETF (and the Profit Radar Report) a “trader with a good track record.”

Simon Maierhofer is the founder of iSPYETF and the publisher of the Profit Radar Report. Barron’s rated iSPYETF as a “trader with a good track record” (click here for Barron’s profile of the Profit Radar Report). The Profit Radar Report presents complex market analysis (S&P 500, Dow Jones, gold, silver, euro and bonds) in an easy format. Technical analysis, sentiment indicators, seasonal patterns and common sense are all wrapped up into two or more easy-to-read weekly updates. All Profit Radar Report recommendations resulted in a 59.51% net gain in 2013, 17.59% in 2014, and 24.52% in 2015.

Follow Simon on Twitter @ iSPYETF or sign up for the FREE iSPYETF Newsletter to get actionable ETF trade ideas delivered for free.