EM Fixed Income ETF SPDR (EMTL): Monitoring the Indicators

Cornelia Mascio
Aprile 16, 2018

As Mulloy explains in his original article, "the definition of TEMA1 is not a "simple" triple EMA, but rather a composite of a single, double and triple EMAs, which eliminates the lag when there is a trend". Different time periods may be used when using the RSI indicator. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a certain period of time.

The ETF is -7.26% of its 52-Week High and 37.97% of its low, and is now having ATR of 0.81. The ATR basically measures the volatility of a stock on a day-to-day basis. The Williams Percent Range or Williams %R is another technical indicator that may be useful for traders and investors. Presently, the stock has a 14-day RSI of 44.26, the 7-day is sitting at 45.51, and the 3-day is resting at 43.18. The RSI value will always move between 0 and 100. A reading between -80 to -100 may be typically viewed as strong oversold territory. They may look to the 50-day or 20-day to get a better grasp of what is going on with the stock in the near-term. Investors will commonly use Williams %R in conjunction with other trend indicators to help spot possible stock turning points.

April 14 is a negative day so far for SPDR FactSet Innovative Technology ETF (NYSEARCA:XITK) as the ETF is active during the day after losing 1.27% to hit $88.02 per share. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action.

The Average Directional Index or ADX is technical analysis indicator used to describe if a market is trending or not trending. Currently, the 14-day ADX for S&P Regional Banking ETF SPDR (KRE) is 26.54. In general, a rising ADX line means that an existing trend is gaining strength. Whilst a crossing of the center line may be interpreted as a warning of an impending trend change, only values over 70 are usually regarded as a buy signal and those below 30 as a sell signal. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal. The ADX alone measures trend strength but not direction. Using the ADX with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) may help determine the direction of the trend as well as the overall momentum. Shares of EM Fixed Income ETF SPDR (EMTL) have a 7-day moving average of 49.33. Even though the name contains the word commodity, CCI can be used on other investment tools such as stocks. A CCI reading above +100 would imply that the stock is overbought and possibly ready for a correction.

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