Money Back into the Pool... (Yellow)

It might not last long, but there's big flows back into the MAG 7.

Dear Reader:

The S&P 500 is getting its momentum back.

We’re eyeing the BMO REX MicroSectors FANG+ Index 3X Leveraged ETN (FNGA). Recall that this is the positive 3X ETN for the FAANG stocks.

The FNGD - which is our RED ALARM warning - has now dropped under its critical 20-day moving average. If you buy that (as some readers have said), take the gains. (It added more than 50% since that negative move on February 24).

The FNGA is now 1.2% under its 20-day moving average.

A press above that technical line would be bullish. Again, THIS IS NOT A RECOMMENDATION TO EVER OWN THIS.

If you want to speculate around Mag 7 stocks, consider the Roundhill Magnificent Seven ETF (MAGS), up nearly 3% today. It’s up just 0.5% from its 20-day moving average. But positive momentum can take this much higher.