Every week, I use ChartMill.com to screen for potential ETF buy opportunities in the upcoming week.
Here are 8 ETF trade ideas that popped up from this week's analysis.
SPDR Gold Trust (GLD)
Gold remains one of the hottest trades on Wall Street even though the price has dipped back to around $1940. The threat of higher inflation and a weaker dollar should keep demand high.
Vanguard Total Stock Market ETF (VTI)
While it's mostly large-caps that have been driving the market higher, total market funds look just as attractive. VTI is back at all-time highs, although momentum has slowed.
Healthcare Select Sector SPDR ETF (XLV)
Healthcare has been banking on an eventual coronavirus vaccine, but things have been quiet on the political front. The group has been relatively flat in recent weeks, but it's sitting on strong support here.
Communication Services Select Sector SPDR ETF (XLC)
This is a strong, steady uptrend for this sector. Google and Facebook make up 40% of the sector, but I like how this group looks regardless of what the COVID pandemic looks like.
iShares U.S. Medical Devices ETF (IHI)
Medical devices have outperformed both the S&P 500 and the healthcare sector by 6% year-to-date. It's hitting a bit of resistance right now around the $295 level, but once it breaks through, there's little stopping a quick run to $300.
ProShares S&P 500 Dividend Aristocrats ETF (NOBL)
Dividend stocks have been largely out of favor this year, but the aristocrats have been the best performers of the bunch. There's still some lack of direction here, but the group looks like it has good support above the 50-day moving average.
VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL)
Junk bonds have been bouncing around, caught in the tug-of-war between the equity and fixed income markets. This is right around all-time highs and high yield bonds look favorable with the Fed's support.
ETFMG Prime Cyber Security ETF (HACK)
Cybersecurity is a tech laggard this year, but we're always just one hack away from another rally. This sector rates as a bit undervalued here, but the current dip represents a nice entry point.
More ETF Research
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