Unlocking ETF Trends: Weekly Market Review & MAXLIST Highlights – Jun 09, 2024

First off, the IBD 50 stocks ain’t showing much leadership right now, so we’re being a little cautious with growth. Gold miners and gold itself are both dropping like rocks, so steer clear of those. Biotechnology is looking promising, forming a base and showing signs of lifting off. If it breaks above those recent highs with volume, it could be a good time to jump in.

Oil and gas, home construction, and transportation stocks? Forget about ’em. They’re all underperforming, and there’s no reason to fight the trend. Software technology is a bit choppy, so be careful there. Medicine stocks are starting to pick up, but it’s a lagging group, so tread lightly.

Aerospace and defense is looking decent, but it’s a bit extended, so proceed with caution. S&P 500 growth stocks are showing some strength, but small caps are still lagging. Real estate is leading, so that’s one to keep an eye on.

Transportation, airlines, and global jets are all grounded right now, so avoid those. Pharmaceuticals are strong, and we’re already in on that action with Eli Lilly. QLD looks good too, and could be a potential entry point if it breaks above the highs of those recent bars.

QQQ had a bearish engulfing bar on Friday, so it needs to show some strength before we get too excited. Retail is lagging, and silver is tarnished (sorry, couldn’t resist). Steel is a no-go, but semiconductors aren’t looking too bad. They might be forming a little pen pattern, which could lead to a breakout.

Spiders are looking decent, and SSO is just resting after a decent move. Solar stocks are a no-go right now, as are small caps, U.S. oil, and homebuilders. Materials and communications are hanging in there, and energy stocks are still a no-go. Technology is looking decent, so you might want to consider that sector. Consumer staples aren’t bad, but it’s a slower-moving, defensive sector. Healthcare is basing nicely, and consumer discretionary is just basing without much power.

Now, let’s move on to the Max List stocks. Apple is holding up well, and a breakout above Friday’s high could be a buy signal. Amazon’s weekly chart looks promising, but Alibaba is lagging. Google needs to break through some resistance before it gets interesting, and Goldman Sachs is a bit sloppy right now. Mastercard is in a downtrend, so avoid it.

We’re already in on Meta, and it’s basing nicely. Microsoft is choppy, but its weekly chart looks good. Netflix is just chopping around, and Nvidia is looking great. It’s been a rocket ship for us, and it’s going to split soon, so be aware of that. NVDL is in the same boat, and Square is a no-go.

Tesla has a nice base on the daily chart, but it’s got a lot of overhead supply. Visa is lifting, but it’s a bit loose on the weekly chart.

So there you have it, folks – our weekly review. Remember, this is just a starting point. Do your own research and due diligence before making any investment decisions. And if you want more in-depth analysis and daily updates, be sure to check out our Key List videos on MissionWinners.com.

Don’t forget to like and subscribe to our channel for more market insights and stock picks. We’ll see you next time!

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MAXLIST tickers are included below. For the list of ETF tickers, visit our website and click on the post that contains today’s video:

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We are asked quite often what charts Patrick is using in these videos. The charts with the black background are Ensign Software. You can find more information about them at EnsignSoftware.com

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