Market Direction Model - Model switches to BUY on June 21, 2023

Published:

21 Jun 2023 11:43 ET

MDM has switched to a BUY signal. This is intended to be a potentially quick trade as we will keep stops tight to minimize risk while riding the trend. China reduced interest rates boosting global M2. This also remains one of if not the most bifurcated markets driven primarily by AI-related stocks. Some of the largest blue chip names which are heavily weighted in the major indices such as the NASDAQ and S&P 500 are involved with AI technology. NVDA, GOOG, AAPL, AMZN, META, and MSFT are some examples. This has pushed these major averages into uptrends, despite the languishing broader market as shown by the NYSE Composite or overall go-nowhere sideways patterns such as with the Russell 2000.

Suggested ETFs (Note: Many members buy the standard ETFs or their preferred ETFs. This list serves as a guide as to which ETFs we think may outperform, but the key point is to be on the right side of the market regardless of which ETF or ETFs one chooses.)

1-times

SPY (S&P 500)

QQQ (NASDAQ-100)

BOTZ (Global X Robotics & AI)

2-times

SSO (S&P 500)

QLD (NASDAQ-100)

3-times

UPRO (S&P 500)

TQQQ (NASDAQ-100)

TECL (Direxion Trust Technology)

NOTE: This is a suggested list. Investors may wish to become acquainted with the full range of available ETFs, and should make an effort to understand how these ETFs are created and what their components are, as well as being aware of the downside risks involved, especially with leveraged ETFs. Certain ETFs may be more appropriate depending on one's risk tolerance levels. Typing in keyword 'ETF' into the FAQ keyword search bar or going here https://www.virtueofselfishinvesting.com/faqs/search?p=1&q=etf and visiting this site https://etfdb.com/ can be instructive.

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