FRAK is an Unconventional Oil and Gas ETF. It spurred up to new 2 year highs this week and closed above the previous high.
While it did pull back on Friday, this chart suggest a renewed push into these plays. As this ETF only has 100000 shares a week, it is a little light to trade with. With the SCTR ranking pointing straight up and above 90, this sector should get some momentum here but investors may choose to look at individual stocks or other energy ETF's breaking out.
Another sector gaining huge momentum is the Utilities sector. The equal weight utilities ETF has an SCTR ranking of 96.
While this is also light in volume, it does help point investors to individual industry groups that might be breaking out. These can be found in the sector summary on the home page.
This Industry group profile shows telecommunications and conventional utilities having a very strong month even though Friday was a huge down day.
This table is clickable. You can click on each one of these links once you open the table in a new tab to see the stocks within each area. The Conventional Utility area has been dominating the top of the SCTR rankings lately.
Good trading,
Greg Schnell, CMT
