Indices 2/10, page-294

The following is an excerpt from my Excel sheets where I track all sorts of stuff.

This shows some technical notes on the 19 ETFs that I track.



Some notes to clarify the above.

Man. Rel. Strength = the level of the Mansfield Relative Strength which compares the ETF to the XJO. Above zero means the ETF is doing better than the XJO. Below zero - the ETF is doing worse than the XJO.

It is a good idea to be invested in products that are doing better than the XJO.

Some of these ETFs have a relatively high correlation to the XJO. VLC, VHY and MVW. These have a correlation around 0.9%. STW, for example, is 0.955 (virtually no difference.) Any of these could be used as a proxy investment for the XJO.

All of these ETFs are below the Kijun Sen (Ichimoko System), 50-Day MA and 20-Day MA, i.e., they are in bearish territory. Only two ETFs are above their 8-Day EMAs - MVB (Banks) and GDX (Gold Miners). That's a short-term buy signal.

Relatively best performing ETFs are:

• IAF - Oz Composite bond fund. MRS 0.25
• MVB - Australian Banks. MRS 0.3
• BHYB - Major Bank Hybrids. MRS 0.28
• QMIX - Major stocks across countries. MRS 0.25.

Notice the lean to banks and bank hybrids. (These readings are dynamic and can change quickly.)

Worst Performers:
ACDC - Global Battery and Lithium. MRS -0.68
GDX - Oz Gold Miners. MRS -0.27
VAP - Oz Property. MRS -0.22
DJRE - Global Real Estate. MRS -0.19.

I usually like to see SPT3 (Three Supertrend Lines) with three out of three before going long - medium term trade.

The above is not a comprehensive review. I still need to look at a chart - volume effects and support/resistance, for example, are important.

Bank Hybrids have a correlation of 0.1 - virtually non-correlated. ACDC also has a very low correlation 0.04. IAF has a low correlation 0.26. IHCB is 0.28.