In case you missed it, here’s a summary of the ETF topics and market reviews I posted to my blog during the week ending on 7/29/2012.
It was a tale of two markets. The first three days, the bears were in firm control only to be pushed aside by sudden bullish sentiment thanks to well timed jawboning by ECB president Draghi.
As a result, initial losses reversed, and the major indexes closed the week to the upside. Again, it’s important to note that none of what ails Europe has been resolved, but merely old ideas have been put back on the news front burner assuring the bulls that all will be fine and no stone will be left unturned to guarantee the EU survival.
Of course, we’ve all heard this before, which means that after the initial euphoria wears off, the major indexes will shift into retreat mode. QE hopes anywhere you look are enough these days to lift markets. For how long and how far that is the unknown question.
Over past week, we covered the following:
Will The US Q2 GDP Number Trigger Another Round Of Quantitative Easing?
New ETFs On The Block: Global X Superincome Preferred ETF (SPFF)
ETF/No Load Fund Tracker Newsletter For Friday, July 27, 2012
Weekly StatSheet For The ETF/No Load Fund Tracker Newsletter – Updated Through 7/26/2012
US Stocks Surge On Draghi’s Euro Pledge; EWP Flies, VIXY Crashes
Riding The Range: US Indexes End Mostly Lower On Weak Earnings; IGN Jumps
7 ETF Model Portfolios You Can Use – Updated through 7/24/2012
US Equites Head South As Greece Takes Center Stage Again; VIXY Vaults, EWP Sinks
Europe Worries Pulls Major Market ETFs Lower; VIXY Spikes, EWG Crashes
ETFs/Mutual Funds On The Cutline – Updated Through 7/20/2012
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Comments 2
Mr Neumann,
I have been a long term observer of your daily newsletter since 2007 and I enjoy your insight into the Market and investments. You saved me a lot of pain by convincing me to get out of the Market before the 2008 crash. I was wondering if you could provide your latest insight into the Market. It seems to me that the Market will continue to move sideways until September, due to the uncertainty in the world economy and erratic housing recovery. What is your ernest opinion and outlook for the rest of the year?
Roger,
As in 2008, my views are based on the trends in the market place. Right now, we are still in buy mode on the domestic side after having slipped below the line in the international arena back on 5/15/12. With the global slowdown accelerating, and the Europeans continuing to excel in talking but not in coming up with solid plans to solve their debt crisis, another sharp market pullback is a distinct possibility. As I have commented many times, the only thing that keeps the domestic market at these levels is the hope for more QE by the Fed.
I would expect another sharp sell off but we need to cross below the Domestic TTI trend line to the downside first, before I would become very bearish. At that time, anything would be possible and a domino effect will be likely. Actually, there are many trigger points that could cause a sudden market reversal. One being Spain, a country that seems to have run out of money and may be defaulting on their debt well before Greece does. That’s just a guess right now, but stay tuned to the direction of the Domestic TTI, as it has been a great guiding light in avoiding major market crashes sine the 80s.
Ulli…