A Relative Strength ETF With, Well, Relative Strength

FV’s other holdings are the First Trust Dow Jones Internet Index Fund (NYSEArca: FDN), First Trust Consumer Staples AlphaDEX Fund (NYSEArca: FXG) and the First Trust Consumer Discretionary AlphaDEX Fund (NYSEArca: FXD).

FV is off 1.5% over the past week, but its technicals are still strong, indicating the recent dip could be a buying opportunity. Here’s Captain John with the technical take.

This chart shows an interesting development. After making a bullish head& shoulder continuation pattern, it has returned to the neckline to test what may be support! Looks like good risk/reward here.”