Low Volatility ETF outperforms
As we can see in the chart, SPLV – the Invesco S&P 500 Low Volatility ETF – has formed an ascending triangle pattern - the blue lines.
the three big bearish candlesticks, though, that form the lower side of the triangle, should be a source of concern.
Apart from the above, our momentum indicator, MACD is in positive territory and moving up for the time being.
Finally, SPLV's Relative Strength has been moving up and well above its 20-day exponential moving average since late July.