The top five holdings in this ETF are: Apple Inc (AAPL, 4.53% of assets); Procter & Gamble Co (PG, 4.45%); Cisco Systems Inc (CSCO, 4.38%); Microsoft Corp (MSFT, 4.36%); and Visa Inc Class A (V, 4.36%).
Invesco S&P 500 Quality ETF (SPHQ)
From Momentum Strategies Report
Traders can maintain a long position in my favorite market-tracking ETF, the Invesco S&P 500 Quality ETF (SPHQ). I suggest using a stop-loss slightly under the $30.50 level for this ETF on an intraday basis. Only if this level is violated will I move to a cash position in my short-term trading portfolio.
SPHQ has rallied since late December and is now testing a pivotal chart resistance at the 29.00 level. While SPHQ is vulnerable to a pullback in the coming days, any such dip should be used as a buying opportunity in this ETF based on the internal strength currently reflected in the stock market as discussed in recent reports.
Meanwhile, investors can maintain longer-term positions in fundamental sound stocks in the top-performing real estate, consumer staples, and healthcare sectors.
Cliff Droke, Momentum Strategies Report, www.cliffdroke.com, 707-282-5594, March 31, 2019