ETF Streaks

Buying pressure has been evident in a couple of ETFs that are off the radar lately. iShares North American Tech-Multimedia Networking (IGN) and iShares National Muni-Bond (MUB) have both been driven higher for 10 sessions in a row.

For IGN, it has been a sign of exhaustion. The other times typically led to a period of stalled upside.

For MUB, not so much, though of course with a sample size of one, it's essentially meaningless. Streaks like this are less consistent indicators in bond funds that equity or commodity funds.

On the downside, two funds focused on Poland, EPOL and PLND, have both been down 7 sessions in a row. That also occurred in late October to no effect, but previously hadn't been seen. As the funds challenge their lows from 2011/2012, it would make sense to expect some kind of bounce from the persistent selling pressure.