Commentary

VTI

Weekly

This is getting pretty close to an all time high, which was 149.43 dividend adjusted on September 21 last year.

VTI broke out of a 7 week consolidation above the 52 week moving average during the first week in April. The breakout was confirmed last week. The consolidation was mild as the 3 week rate of change never went negative.

The weekly algorithm bought the close of January 25, 2019 for a dividend adjusted 135.74 and has remained long.

The PPO histogram has been green for the last two weeks

Daily

A buy signal was fired to buy the Thursday close when the daily candle finished green. However, it is doubtful if the very mild 5 day consolidation shook out many bulls. The previous buy signal on March 29 at 144.71 made a nice profit. If there is a consolidation where prices trade in a range for many days negative momentum signals are not hard sell signals.

The Friday breakout above the consolidation is a classic buy signal, and the overall rosy outlook was confirmed by the PPO histogram turning from white to green.

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