PRICE Is The Ultimate Arbiter:
There are many indicators that market participants evaluate to determine where and when they should enter a stock. But at the end of the day nearly 100% of those indicators react to PRICE, so in my opinion why study a derivative of PRICE when one can just analyze it alone? I like to utilize candlesticks but they are not a panacea by any stretch, but they are helpful. Looking at the daily chart of the IGV below however one can see how it has disregarded some very revealing, negative candles. The ETF is now on a 6 session winning streak and up 14 of the last 15. Of course, nothing goes up in a straight line and it will come back down to earth, but let PRICE filter to where it will. On its WEEKLY chart, this could travel to the 440 area where it last touched in late 2021 in the coming months. Perhaps PMs are frontrunning the traditional very strong seasonality in July, which over the last 4 years has been higher 100% of the time for the best MONTHLY return of the year, averaging almost 5%.