Equities Rally As Auto Sales, Factory Orders Robust In June; GDXJ Shines, VIXY Tumbles

Ulli Market Commentary Contact

[Chart courtesy of MarketWatch.com] Strong factory orders and an increase in auto sales for May pushed US stocks higher Tuesday after closing mixed Monday as investors breathed easy on concerns that the economy is faltering. Of course, as has been the case lately, bad economic news is simply ignored while decent reports provide the fuel for a rally. Go figure. …

Dow Slips As Manufacturing Disappoints; Worst NYSE Volume In Over A Decade

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[Chart courtesy of MarketWatch.com] The S&P 500 and NASDAQ ended shrugged off early weakness to close modestly higher, while the Dow Industrials closed slightly lower Monday after ISM data showed US manufacturing shrank unexpectedly in June for the first time since July 2009. Volume was the worst on the NYSE in a decade and, even when compared to other July …

ETFs/Mutual Funds On The Cutline – Updated Through 6/29/2012

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Below are the latest ETF Cutline reports, which show how far above or below their respective long-term trend lines (39 week SMA) my currently tracked ETFs/MFs are positioned. The first report covers the ETF Master List from Thursday’s StatSheet and includes 398 ETFs, of which currently 249 (last week 202) of them are hovering in bullish territory. The second report …

Economist: Onus On ECB To Bring Down Borrowing Costs For Spain And Italy

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The European summit, ostensibly one of the many that will take place as the year wears on, that started in Brussels on Thursday created a lot of expectations around comprehensive policy measures needed to reign in the European crisis. Global markets are looking at tangible outcomes rather than statements that merely outline purposes, although the initial market reaction begged to …