Health Care Still On Top, A Look At The Q's For The End Of August

Looking at last night's chart, we see that the models' predictions are better than the previous week's numbers. The overall average is 4.8, which is up from last week's 4.59. enter image description here I have been tracking some bearish numbers with the Qs for the past two weeks. The models are still forecasting a down market for the NASDAQ for the end of this month. There are bearish numbers for QQQ and TQQQ. I would like to see a better bullish confirmation with the inverse ETF SQQQ and, similarly, a bearish confirmation with QLD. The numbers show a bullish bias returning for the remainder of the six weeks. enter image description here Back to last night's chart. The Health Care sector continues to have the best overall forecast for the next 30 trading days. Its current average score is 5.98. And like last week, the Health Care sector has an excellent short-term prospect; based on last night's chart, this should occur in 12 to 15 days. The computed average is 6.56. The estimated best ETF in that sector for that period is $CURE.

In contrast, the Metals & Miners sector has the worst overall view for the next 30 trading days with an average score of 4.07. Also, the Metals & Miners sector has a poor prospect in the 8 to 11 day period; The computed average is 3.31. In this sector, $IAU may have the worst results. Coming in second with a weak prospect is the Real Estate sector in 18 to 21 days, with the ETF $VNQ expected to finish the worst in this group.


Author: joe