Finding an Edge in a Dull Stock Market

How to gain an edge:

A bear jumps out of a bush and starts chasing two hikers. They both start running for their lives, but then one of them stops to put on his running shoes. “What are you doing? You can’t outrun a bear!” says one hiker, the other one replies: “True, but I don’t have to outrun the bear; I only have to outrun you!”

What’s the point? The market is the composite opinion of all other investors. In essence, you beat ‘the market’ (aka the ‘bear’) by knowing more than your fellow investors (aka the other ‘hiker’). Knowledge is the edge.

I consistently follow dozes of different indicators, which fall into one of these four categories:

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

When all or most indicators point in the same direction, there’s a good chance stocks will move in that very direction. I call this a high probability trade.

The last such signal occurred in December, when liquidity, sentiment, technicals and seasonality pointed higher. The bullish weight of evidence, at that time, was discussed in this article: Is the Bear Market Over?

Since then, the S&P 500 has gained more than 20%. How much further can stocks rally?

Investor Sentiment

Some sentiment gauges show elevated optimism, but considering the strong Q1 2019 performance, overall sentiment is surprisingly subdued. Shown below is a selection of six different sentiment indicators. None of them shows an extreme reading. Without extremes, sentiment doesn’t provide an edge. It is possible for stocks to move higher.

Technical analysis

Short-term: The S&P 500 is nearing over-bought and is facing mild resistance. The chart below highlights trend line resistance and horizontal volume resitance (volume by price not date) for the S&P 500 futures. Now doesn’t appear to be the time to chase price.

Longer-term: The trend is your friend, but the risk of being ‘un-friended’ exists, and it’s difficult to find low-risk entries in an market that’s driven by momentum, but on the edge of being over-extended.

Elliott Wave Theory, the most exotic tool in the technical analysis tool box, is up to interpretation and of little help (more details here).

Supply & demand

Liquidity continues to flow into US stocks. Uncertainty in the European Union and money on the sidelines in the US are a likely cause for the continued inflows. My favorite liquidity indicator suggested throughout 2016, 2017, and 2018 that new all-time highs will be reached, and that message continues to be the same.

Seasonality & cycles

Bullish mid-term election year seasonal forces, discussed here, appeared late, but they did show up.

Based on mid-term seasonality, more gains are likely, but general S&P 500 seasonality is entering a higher risk window.

Cycles are conflicting.

Summary

There are times when most indicators point in the same direction (as in December), making a directional forecast easy.

And there are also times when indicators are in conflict, such as now.

That doesn’t mean we are left entirely clueless. Based on the market’s pattern in early March, we expected the S&P 500 to see-saw across obvious resistance at 2,815 and secondary resistance at 2,830. The S&P spent two weeks doing just that. But in order to unlock lower targets, it would have had to break below 2,785, which it didn’t.

Periods of relative uncertainty are always frustrating, but two things should be kept in mind:

  1. It’s good to know when visibility is limited and act accordingly. Would you trust on Uber driver who’s speeding in the fog? Can you trust an analysts who’s ignorant of ,or over confident in periods of uncertainty? Knowing there is no edge, is an edge in itself.
  2. Periods of uncertainty always end!

And when certainty returns, the Profit Radar Report will be there.

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 evaluation 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, 24.52% in 2015, 52.26% in 2016, and 23.39% in 2017.

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

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S&P 500 Update – Let’s Call it What it Really Is?

Last week’s S&P 500 update highlighted a triangle and complete 5-wave pattern likely to be followed by a ‘pop and drop’ with a minimum down side target around 2,720.

Price popped to 2,817, and subsequent dropped to 2,722, confirming (and possibly completing) this pattern.

As mentioned in the March 10 Profit Radar Report, to see more down side, the S&P would have had to stay below 2,764, otherwise odds would favor a new high.

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

On Monday, the S&P moved above 2,764, and subsequently a new high.

How does that new high fit into the bigger picture?

Time to be honest

My analysis includes many different indicators, but the only one that’s really mattered is the December/January breadth thrust discussed here.

Elliott Wave Theory (EWT) on the other hand has been of little help. In fact, I have rarely seen more conflict among EWT analysts with many either adjusting their labels to match stubbornly held interpretations, or changing on a whim.

This can be (and usually is) costly for readers and investors. The honest approach is to just admit when the EWT structure is foggy.

The chart below shows the EWT conundrom: The wave structure going into, and coming out of, the December low is messy, and up to interpretation.

If you are not familiar with EWT, in order to pinpoint the main trend, it’s important to discern a clear 5-wave (or at least 3-wave) pattern. A 5-wave pattern usually marks the dominant trend, and is followed by a pullback, and trend continuation.

The blue stretch above labeled “5 waves” is the only clear pattern I’ve been able to discern (published real time in the March 3 Profit Radar Report, see chart below).

The completed pattern suggested a 100-point drop (or more). In reality it led to a 95-point drop. Since the drop reached my minimum target (2,720, green trend line, first chart) and stopped after only 3 waves (3 waves are counter trend), it may have completed the entire pullback.

The blue “a-b-c” labels show another valid path, which suggest the S&P 500 will soon relapse and re-visit the 2,700 range.

Technical Analysis

Basic chart analysis shows the S&P 500 bumping against a cluster of resistance (first chart). Risk is elevated while below resistance, but the more obvious a resistance level becomes (such as this one), the more likely it is for price to surpass or see-saw that level.

An immediate U-turn, or a quickly reversed spike above resistance, would be the first indication that the blue path illustrated above is playing out.

Continued updates 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 evaluation 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, 24.52% in 2015, 52.26% in 2016, and 23.39% in 2017.

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

S&P 500 – Change of Trend?

This is a shorter-term Elliott Wave Theory-based forecast. A longer-term forecast based on a different set of reliable indicators is available here.

Most of February’s market action was outright boring!

Starting in late February, however, boring morphed into revealind. The range bound trading actually provided clarity.

Via the February 27 Profit Radar Report, I pointed out a possible S&P 500 triangle formation. The chart below (published in the March 3 Profit Radar Report) illustrated the triangle formation as it corresponds to Elliott Wave Theory.

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

Pop and Drop

In short, the triangle was to be followed by a pop and drop.

As the updated price chart shows, this is what happened.

The green line highlights important support provided by the February 21 low (2,664,55).

I don’t think it will, but as long as this support holds, a different kind of Elliott Wave Theory formation – a more complex ‘flat triangle’ – is possible (see blue lines in chart below).

Regardless, the post triangle pop should be wave 5, which marks the completion of this particular rally leg. The wave 5 high likely occurred already on Monday (2,816.88).

Regardless, a pullback is here or near. How much of a pullback?

How Big of a Drop?

It’s been difficult to count the rally from the December low in terms of Elliott Wave Theory, but the rally from the February 21 low has taken the shape of 5 waves (see above charts).

A completed 5-wave rally is always followed by a pullback. The question is this: Does the 5-wave rally complete only a small rally leg (going back to early February) or the entire rally from the December 24 low?

The blue box highlights the discussed 5-wave sequence (chart published in the March 3 Profit Radar Report). We know that this portion of the rally should be retraced for sure (solid blue arrow). However, it’s possible that the latest 5-wave sequence ends a larger A-B-C or 5-wave advance, which would suggest a much deeper drop (dashed blue line).

The S&P 500 futures chart, published in the March 3 Profit Radar Report, shows an ominous wedge formation with decreasing volume, which could translate into significant down side risk.

It looks like the minimum down side target is around 2,720, but a drop to 2,600 (and lower) seems quite likely.

We will asses down side risk as the decline progresses.

Continued updates 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 evaluation 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, 24.52% in 2015, 52.26% in 2016, and 23.39% in 2017.

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

S&P 500 Update

In mid-January, I asked: Is the ‘Bear Market’ Already Over?

The above article highlighted bearish (bullish for stocks) sentiment extremes, the average bear market trajectory (which projected a rally), and – most importantly – a bullish breadth thrust.

Therefore it’s no surprise that stocks continued higher. What is surprising (at least to me), is that they did so without any real pullback. Strong momentum overrode any pullback attempts.

This is highly unusual.

The January 30, 2019 Profit Radar Report stated that: “Based on the most likely Elliott Wave Theory count, upcoming gains should be choppy as waves 4 and 5 of various degrees unfold.”

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

The market sure has been choppy, but continues to grind higher.

This comment in the February 12 Profit Radar Report highlights the conundrum of whether to chase price or not (back then and today):

The S&P 500 is on the cusp of breaking above resistance, and based on after-hours action is likely to do so tomorrow. Forward looking indicators (like Elliott Wave Theory) suggest this rally leg will relapse, but momentum and the technical breakout could over-power future expectations in real time.

I recommended an official buy limit order for the SPDR S&P 500 ETF (SPY), but later down graded it to a buy recommendation for aggressive investors only.

The S&P 500 has now arrived at another juncture.

The S&P 500 futures chart shows that 2,812 – 2,818 is important. Sometimes important price levels are subject to a brief seesaw.

In fact, there’s a pattern right now that – if in place – projects a pop and drop.

I’ve seen a couple of those patterns fail recently, so in order for the pop and drop pattern to gain teeth, the S&P will have to pop above resistance and thereafter drop below resistance.

If that happens, the down side risk could be quite significant.

Continued updates 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 evaluation 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, 24.52% in 2015, 52.26% in 2016, and 23.39% in 2017.

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

Will Momentum Continue to Push Stocks Higher?

From December 3 – December 26, 2018, the S&P 500 lost 453 points. Since then, the S&P rallied 400 points.

Who would have thought that the worst December since 1931 would be followed by the best January since 1987?

Extremes Everywhere

We are truly living in a world of extremes. The rich are getting richer, the poor are getting poorer while historic heat waves and polar vortexes ravage the globe. Stock market extremes fit into the picture.

Although the relentlessness of this rally was unexpected (at least for me), the Profit Radar Report highlighted a tell tale sign of the latest buying extreme when 90% of NYSE-traded stocks advanced on January 4 (blue columns).

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

As the table and thumbnail charts below shows (originally published in the January 9 Profit Radar Report), this kind of breadth and momentum thrust is rare and almost always long-term bullish.

Confirmation?

The initial thrust is thus far confirmed by my favorite liquidity indicator (blue graph, first chart), which has already retraced 88.82% of its prior losses, significantly more than the 63% S&P 500 retracement.

A new high of the liquidity indicator prior to a S&P 500 high will be additional confirmation of further gains.

Momentum vs Over-bought

The S&P 500 ended Tuesday overbought (based on RSI-2 – bottom graph, first chart). This is not the first time the S&P has become over-bought, but in 2019 it’s been a ‘mind of matter’ pattern; As long as the market doesn’t mind, it doesn’t matter.

Red line resistance, the next potential speed bump, is around 2,745.

The Elliott Wave pattern for almost every major index is up to interpretation, but the Nasdaq-100 QQQ ETF pattern offers slightly more clarity than others.

As the chart above shows, QQQ could be completing a 5-wave move. Upon completion, a 5-wave move is followed by a correction (quite commonly a nasty one), and further gains.

One anomaly that also cautions against chasing stocks at this stage is the VIX. As the chart above shows, the VIX has fallen back to support around 15, in fact, it’s at the lowest level since October. At the same time, the S&P 500 is still below its 200-day SMA.

It’s unusual for the VIX to drop to a 3-4 month low while the S&P is still below its 200-day SMA. In fact, over the past 20 years it only happened during the 2001/02 and 2008 bear markets. Forward returns were consistently negative.

In summary, chasing stocks at this stage does not seem prudent. There should be a pullback … and who knows, perhaps the pullback also gathers momentum. We’ll evaluate when we get there.

Continued updates 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 evaluation 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, 24.52% in 2015, 52.26% in 2016, and 23.39% in 2017.

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

Is the ‘Bear Market’ Already Over?

On December 24, 2018, the S&P 500 closed at 2,351.10. Much of the financial media pronounced a bear market that very day:

  • CNBC: We are Now in a Bear Market – December 24, 2018
  • Yahoo! Finance: S&P 500 Enters Bear Market: December 24, 2018
  • Investors Business Daily: S&P 500 Enters Bear Market – December 24, 2018
  • Motley Fool: Here’s Why the S&P 500 Plunged into a Bear Market – December 27, 2018

As the chart below shows, Google searches for ‘bear market’ also soared to an all-time high.

The entire bear market discussion is superfluous in my humble opinion. I explained why in the December 19 Profit Radar Report:

“‘Bull market’ and ‘bear market’ is a status like ‘online’ or ‘offline.’ Just because someone is offline today, doesn’t mean they can’t be online tomorrow. As any momentary snapshot status, the bull/bear market status is not predictive of future events.

In fact, statistically, most bear markets end after the S&P 500 declines 16%. The red graph below shows the average path of the past 10 bear markets (as defined by Ned Davis Research). The S&P has almost reached the maximum down side of the average bear market.”

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

Below is an updated version of the chart published in the December 19, PRR.

Even though the S&P overshot to the down side, and now to the up side, it is following the average bear market trajectory … if one considers this a bear market.

Also note how the S&P bounced from support shown in the first chart.

Is this Bear Market Already Over?

Breadth thrust says: Yes.

On December 26, and January 4, 87% and 90% of NYSE-traded stocks advanced. Since 1985, there have been 5 other times when >85% of NYSE-traded stocks advanced within a 2-week period. Those 5 times are listed below. To the right of each date is a thumbnail chart, which shows how the S&P 500 performed over the next 6 month.

  • In 1987, and 2016 the S&P retested the initial panic low.
  • In 2009 and 2011, the S&P took off to the up side.
  • The 2008 thrust was followed by a rally, but ultimately failed.

Divergences say: No.

Divergences, bullish or bearish, are a helpful forecasting tool. Why?

Prior to a major market turn, market internals tend to divergence from price. If there is no divergence, the odds of a major turn are lower.

For example: At the January 2018 top, the S&P 500 and RSI-35 peaked on the same day. The January 31, 2018 Profit Radar Report stated that: “There was no RSI-35 divergence at Friday’s high. This very likely means that Friday’s high will eventually be exceeded.”

That’s what happened. But, there was a bearish divergence at the September 2018 high, which means new highs are no longer guaranteed.

More importantly, there was no bullish divergence at the December low. This doesn’t mean stocks can’t reach new highs, but due to the bearish divergence at the September 2018 top and the lack of bullish divergence at the December 2018 bottom, the odds of new all-time highs are reduced.

Conflict

Unfortunately there is a conflict between two pretty reliable indicators/studies. The breadth thrust suggests new highs, while divergences (or lack thereof) suggest new lows.

Tie-breaker

The S&P reached the black trend channel, which has been my up side target. The channel has acted as support/resistance numerous times over the past year, and may do so again. A re-test of previously broken support has ‘last kiss good bye’ potential.

Unfortunately that matter is complicated by the fact that the popular 50-day SMA (blue line) coincides with the hand-crafted trend channel. The market likes to see-saw popular SMAs to fool the masses.

The 2-hour chart provides some more details: Yesterday, the S&P 500 broke above the gray trend channel (blue circle). While above that trend channel, trade may continue higher (note the potenial triangle outlined by the purple lines, or diagonal outlined by the blue lines).

However, the larger black trend channel near 2,625 may end this rally leg (perhaps with some see-saw, courtesy of the 50-day SMA). A break back below the gray trend channel should usher in a 100+ point correction, possibly even a re-test or break of the December low.

Continued updates 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 evaluation 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, 24.52% in 2015, 52.26% in 2016, and 23.39% in 2017.

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

How to Predict a Market Crash

Although I warned of an environment where the risk of a meltdown is high (wave 3 down, based on Elliott Wave Theory), I can’t claim credit for predicting the December crash.

Because of my multi-indicator approach to market forecasting, and profound concern for my subscriber’s portfolio’s, I rarely ever make absolute one-directional predictions based on only one indicator.

Absolute Predictions

There are plenty of absolute and unequivocal predictions out there. Such ‘hit or miss’ or ‘all or nothing’ bets are great when they work out (and like gambling, sometimes they do), but cause excruciating pain when they don’t.

Below are a few examples of recent all or nothing predictions:

December 6: “The last great buying opportunity of the decade is here!”

December 10: “Keep cool! S&P 500 & Nasdaq holding above lows. Signal is bullish!”

December 19: “ All structural criteria is in place to create a POWERFUL 1-2 week rally”

My favorite: May 14, 2018 (and virtually every day since 2011): “I think it likely that the rally is ending today” (red arrows added to show implications of wave 2 top, and subsequent wave 3 decline)

I found in my research that the only folks who ‘predicted’ the December meltdown, are those we’ve been spewing doom and gloom for years (even a broken clock is right twice a day).

My Promise

My intent is not to discredit the above services, but to highlight the flaws of tunnel vision research. That is, research based on only one indicator or one methodology.

Before publishing the Profit Radar Report (many, many years ago), I lost a lot of money by trusting one single indicator (which at the time had a good track record). Back then, I took off my ‘research blinders,’ and vowed to expand my research horizon.

Better Diversification

Diversification is a popular term in the investment world, and it’s almost exclusively linked to asset allocation. But what about research diversification?

Just as a diversified portfolio smoothes out individual boom and bust cycles, research diversifcation eliminates the ‘hit or miss’ performance tied to any one single indicator.

Multi-indicator Approach

My goal is to distill and compress the message of various indicators (such as: investor sentiment, money flow, breadth, technical analysis, price patterns, seasonality, etc.) into the most likely path going forward, the direction suggested by the weight of evidence.

For example, on October 28, when the S&P 500 first fell into the 2,600s, I published the weight-of-evidence-based projection (yellow lines) along with the below commentary via the Profit Radar Report:

The biggest potential ‘fat pitch’ trades are to go short above 2,830 (red box) or buy at the second low (green box).”

The yellow lines projected a move from 2,600 to ~2,850, followed by a drop to ~2,400.

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

Crash Environment Alert

Starting on December 9, I warned subscribers that a wave 3 crash is a possibility. For example, the December 9 Profit Radar Report stated that:

Based on Elliott Wave Theory, the S&P 500 could be 1) nearing the exhaustion point of this down leg, or 2) be in a strong and sustained wave 3 lower. Scenario #2 seems more likely.”

The December 17 Profit Radar Report reiterated the following:

Based on Elliott Wave Theory, both options discussed on December 9:

1) Washout decline with target of 2,550 – 2,500 (or 2,478 as per Sunday’s PRR)

2) Accelerating wave 3 lower (which could erase another 10% fairly quickly)
are still alive
.”

In case you are new to Ellliott Wave Theory (one of the many indicators of the multi-indicator approach), here is a description of a wave 3:

Wave 3 is the longest and most powerful of all Elliott Waves. Wave 3 continues to move higher (or lower) despite overbought (or oversold) momentum and sentiment readings. A common target for wave 3 is a Fibonacci 1.618 of wave 1 (which currently is 2,269 for the S&P 500).

Pros and Cons

One ‘drawback’ of the multi-indicator approach is that you will rarely hear a flashy ‘all or nothing’ call.

The benefit is that you will rarely be on the losing end of such a call. The multi-indicator approach does however, outline when the risk of a crash or the potential of a spike is elevated.

And perhaps most importantly, there are times when nearly all indicators point in the same direction to form a potent and very reliable buy/sell signal (such as in March 2009, October 2011, February 2016).

Based on what I’m seeing right now, it seems like we are nearing such a signal.

The latest S&P 500 forecast is available here: Short-term S&P 500 Update

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 evaluation 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, 24.52% in 2015, 52.26% in 2016, and 23.39% in 2017.

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