Strongest and weakest part of the market – 23.07.2014

Here is a  list of strongest and weakest sector and international etfs.

It is interesting that bond etf (TLH, TLT) are strong together with broad market etf like SPY. It signals uncertainty in the market.

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European stock and currencies are quite weak these days in the international part of the market.

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Commodities turned negative – 23.07.2014

Major commodity index ETF, DBC, turned negative after several weeks of decline.  It is not an optimistic situation for commodity bulls. The only bullish part is a base metals sector . Its subindex etf, DBB, moves higher in the uptrend.

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Commodities back to a support

Commodities failed to continue in bullish movement initiated by tensions in Iraq. It is clear that investors do not see the bright future for commodities. There is not any attractive bullish macro theme for commodities. I expected this return. Energy commodities are back in range and agriculture commodities are in a bearish trend.

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The only positive group is base metals and this can be traded with bullish trading strategies.

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