So far, overhead resistance, pegged to be the 1,130 level of the S&P; 500, held twice yesterday, as the index backed off, but still closed within striking distance. It seems to me that the rally from the lows of the trading range appears to be getting a little tired as the market may have gotten way ahead of itself. Evidence …
Gold Closes At A Record
While the S&P; 500 slipped yesterday, after 4 days of gains, gold rallied and closed at a record high. Speculation has it that the Fed will purchase some $1 trillion in bonds to support the economy. At the same time, the dollar fell, which helped silver and commodities and pushed interest rates lower. The major indexes, with the exception of …
Last Hour Surge
For a while, it looked like the markets were about to surrender their gains at mid-day yesterday, before a last hour surge propelled the major indexes within shouting distance of their highs of the day. Helping matters was news from China that industrial production grew while retail sales rose sharply. That eased concerns, at least for the day, that Chinese …
Cheaper S+P 500 ETF Launched
The cheapest S&P; 500 ETF was brought to the market as reported in ”Vanguard Launches New, Cheaper S&P; 500 ETF:” It’s been a long time coming, but an S&P; 500 ETF from Vanguard is finally here. The Valley Forge, Pennsylvania-based firm rolled out the Vanguard S&P; 500 ETF (VOO) on Thursday, nearly 35 years after the company introduced an S&P; …
The $9 Trillion Bailout
When referencing articles on the current, past or future state of economic affairs, my preference is to use material from authors who use common sense intertwined with their knowledge of the subject. Mish at Global Economic Trends is the top blogger in the universe and always writes about as direct and spot on as you can get. Economists Dave Rosenberg …
Trend Tracking: What’s A Selective Buy?
Reader Stewart emailed the following question: What does Selective “Buy” mean? I understand–from the How-To– what “Buy” means: choose from the top few funds. Presumably, “Selective” restricts that further, but what do you mean specifically? For instance, how would I apply a selective buy to country ETFs?As you know, to generate buy/sell signals for domestic and international funds/ETFs, we use …