Bottom Fishing

Long time readers know I like to use the bottom fishing screen, inside The PPT, to find inflection points. When the screen starts to populate inverse ETFs, it’s time to pump the breaks and use caution going forward.

So far the screen has yet to flash caution lights throughout this recent run. However, in tonight’s screen, we are seeing emerging markets flagged, specifically China. Not to mention the QQQ’s via $QID

Being that emerging markets lead us to new highs, I would continue to watch the almighty B.R.I.C. for future clues on market direction.

I’ve imported tonight’s screen to finviz for your viewing pleasure: CLICK HERE FOR CHARTS. Members can view the screen in its original form HERE.

PBR & ECA also have my attention from tonight’s screen.