Tech has been the place to be during the Covid-19 crisis. Investors Business Daily recently highlighted how one can own the strongest of the strong by just owning one ETF (See article here).
This chart looks at the Dorsey Wright Focus Five index ETF (FV), which reflects that it is attempting a bullish breakout while creating higher lows over the past 6-years.
The $2.1 billion fund tracks the Dorsey Wright Focus Five Index, which provides access to five First Trust sector and industry ETFs. Dorsey Wright & Associates selects the funds based on relative price momentum, then weights the components equally. It could be termed a fund of funds.
Full Disclosure; One of the top 5 holdings of this ETF is FDN (Internet ETF) is currently owned by members, due to an upside breakout back in May.
FV is testing a very bullish breakout level this week. If FV breaks above line (1), look for upside momentum to continue for the strongest of the strong!