ETFs in Review

On Wednesday (February 11), I discussed the Commercial Mortgage Backed Securities (CMBS) and isolated on SRS (ProShares Ultra-Short Real Estate ETF). So far, the market agrees in that the price on the open on February 11 was $60.35. SRS closed Friday at $68.76. So far, so good.

On Thursday (February 12), I noted that GLD (gold) was near-term overbought at $93.17. GLD closed Friday at $92.55. [Note: Long-term, I am very bullish on gold.] In regard to the other metal, silver (SLV), I noted (February 13) it was also near-term overbought at $13.16. On Friday, it closed at $13.54. For both GLD and SLV, I anticipate a short-term price correction.

In the bond area, I stated on Thursday (February 12) that TLT (ETF on 20+ TSY Bonds) is getting close to a near-term buy. On Friday, it closed at $102.41. I would like to the price to test its 200-Day EMA at $100. We may see it this coming week.

For the coming week, I am looking very closing at QID (ProShares UltraShort on QQQ) for a possible buy signal this week. The chart on QID is as follows:
Note: To enlarge, double-click inside the chart.