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July Breakout ETF/ETNs Week 29 – 2023: Strongest Momentum Gainers For Next Week

Summary

  • This article highlights current and future ETF/ETN breakouts for Week 29 using the MDA momentum cycle model.
  • Following the positive Momentum Gauge signal on June 1st, leading funds include NAIL +67.1%, FNGU +27.5%, TNA +26.5%, BNKU +20.5%, SPXL +19.5%, FAS +19.4%.
  • Healthcare remains the only sector negative for the past month, and the beat by UnitedHealth Group may lead to a breakout in Healthcare fund CURE.
  • Mega cap technology has had an incredible run leaving all other sectors and indices in the dust with TECL up +151.9% YTD and mega cap FNGU +377.7% YTD.
  • The 3x homebuilder fund NAIL had 27% gains this past week and is up +176% YTD as rising mortgage rates appear to be greatly benefiting new construction.
  • I am JD Henning. A Finance PhD and investment adviser with 30+ years trading and investing. I run Value & Momentum Breakouts where I identify breakout signals and breakdown warnings using technical and fundamental analysis. I run the investing group Value & Momentum Breakouts.
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