Volatility’s on the rise this month, and three popular ETFs are trying to hang on.
The Market Vectors Semiconductor ETF (SMH), S&P SPDR Financial ETF (XLF) and S&P SPDR Energy ETF (XLE) had all slammed down to apparent support levels earlier in the year. At the same time, they’ve made a series of lower highs.
Some chart watchers may view that kind of price action as “bearish descending triangles” with the potential for more downside. They’ve also recently broken under their 200-day moving averages, another potentially negative signal.
Disclosure: This post is for educational purposes only and should not be interpreted as a trade recommendation.