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.