MTUM Q2 2023Publishing the MTUM chart to track. This has been the true tell of the market over the last few years.
I like to keep an eye if both the SPX and MTUM go red together to confirm the strength of any move to the downside.
MTUM trade ideas
MTUM Bullish!Good morning traders, today I have a chart and technical analysis of our favorite ETF, $MTUM!
I would like to preface this by stating all green lines represent supports as well as al red lines represent resistances
MTUM has had quite the significant first half of 2021, and I believe due to the following that we are in for more.
Recently, at the beginning of August, we broke from a several month long Ascending Triangle Pattern and retested our support this recent week, solidifying our breakout
The bottom-most parallel channel in green is our major support line, formed after the March '20 crash last year, and with MTUM being so near that support, I can't see any currently plotted resistances holding very long. Bulls are in full control it seems
We're seeing a bullish divergence on the MACD, unfortunately our RSI is looking to head into overbought territory, however I don't think this will effect us for long, as we're close to a resistance line
The Afghanistan Crisis caused a drop in the overall markets this prior week, and MTUM found support by the 50MA and rebounded swiftly.
Currently, we've formed into a short term ascending channel, I believe we'll break to the lower side of this and bounce off of our closest support and ride it until our major parallel channel support before taking off to new heights!
Best of luck, happy trading!
Spence
MTUM 50-day MA moved above its 200-day MA on June 17,2020This price move may be construed as a buy signal, as it indicates the trend is shifting higher.
MTUM - Tracking Momentum - Topping Out & SlowingMTUM is the ETF ticker which tracks momentum.
The pink lines show a megaphone pattern, which is bearish when tilted up. education.howthemarketworks.com
The inner white trendlines of the megaphone show price hitting the angled resistance.
The angled resistance crosses the current white price trendline on 12/13.
Going back in history with MTUM, inside the megaphone we see the price top out end of week.
This happened on July 26th and Sept. 6th. Both which are Friday's.
Watching MTUM as an indicator of SPY, we confirm MTUM and SPY shared the same selloff on Dec. 2.
So using MTUM we see that we may stretch out to the end of week here.
I am hoping we go sooner. Theta is killing my options.
If you are getting reamed on your options contracts by waiting, looks like we have a week left here.
If you have large positions, you can either add to reduce cost basis as we get higher OR move your positions farther out for a small loss if you are worried about time.
I think the MTUM chart (for me) confirms there will be no China deal on 12/15.
Each person should draw their own conclusions and make adjustments if necessary
Thank you very much to everyone who is supporting me with positive comments while we get jerked around here.
I really appreciate this community, those who follow my posts, and anyone who leaves good vibes in comments very much.
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, and VIXY.
Short SPY, AAPL, ROKU
MTUM - Momentum ETF - Confirms SPY Slowdown ComingIf MTUM is a momentum based indicator ETF, and is related to SPY, then the following patterns would confirm SP500 bearish correction is coming.
MTUM is the iShares ETF "Exposure to large- and mid-cap U.S. stocks exhibiting relatively higher price momentum" www.ishares.com
In the pattern we see THERE IS NO MOMENTUM
MTUM pattern has megaphone top.
Tilted up expanding pattern. Price stalls and falls out at pink line.
In addition we have a possible Triple Top formation.
Multiple highs of the day on 5 candles hit $123 range, multiple days within pennies.
We have topped out RSI, Fisher Transform almost topped out, all time high price, and gaps to fill below.
For the reasons above, I feel this is a bearish pattern with bearish indicators in overbought territory.
I do not have any active position in MTUM.
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY.
Short SPY and AAPL.
MTUM - IShares Momentum Ticker - Outta GasLooks like MTUM is out of momentum.
This contributes and confirms that SPY should be pulling back. MTUM and SPY are correlated.
Daily view shows megaphone top. (or Broadening Top thepatternsite.com)
Megaphone Top can breakout either direction. Given the tilt of this megaphone, I feel the price is falling backwards against momentum.
Since the slope is too steep, price is hard to escape the megaphone.
For this reason, I feel price will fill all 4 gaps on chart (red boxes) down to $113.
MTUM going down also shows opportunities to examine holdings of the ETF, to see what primary tickers may fall. Then short them or buy puts.
I will be posting a MSFT short/put opportunity later today. MSFT is a major component of MTUM.
RSI is not totally topped out here. Need to wait for entry.
Entry looks to be either RSI 70+ or top two gap fills (down to $122) breaking white support line.
I am not currently active in this position, so I will not follow this as regularly.
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY.
Short SPY and AAPL.
MTUM/VLUE increasingly inversely correlated to SPYIt seems like increasingly MTUM stocks are underperforming VLUE stocks. Furthermore, this underperformance correlates increasingly negatively to SPY performance. I don't really know what this means.
Price broke out and is staying above supportMTUM broke above support at 74.50 and so far has been staying above it. This should continue to rise unless the entire market crashes.
$MTUM weekly breakoutMTUM weekly is one that I will be watching this week. Momentum names have been well bid so see if this breakout holds. Could give us some idea about the direction of the market overall.
$MTUM weekly Momentum ResistanceMomentum testing resistance here Very interesting what happens here this week. Indicators showing sideways. Possible consolidation under resistance.
Something new to meThough this ETF has commenced trading since May 2013, i only came across it today
A standard chart that is used to help confirm the overall market trend is the Momentum Factor ETF (MTUM) chart. Momentum Factor ETF is an investment that seeks to track the investment results of an index composed of U.S. large- and mid-capitalization stocks exhibiting relatively higher price momentum. This type of momentum fund is considered a reliable proxy for the general stock market trend.
3 levels of support to watch out:
a. the uptrend line support around 62.5
b. 200ema price support around 61.6
c. psychological round figure support 60.0
