[Please note that Gold and Oil prices in above chart reflect the evening session] Today, there was simply no place to hide, unless you were invested 100% in U.S. Treasuries and/or some selected Bond ETFs. Just about all other asset classes got taken to the barn and spanked in no particular order. It was relentless selling around the globe with …
Equity ETFs Wobble, Then Turn Into A Sell Fest
While doing what is expected can be a good thing, it can also backfire, especially when Wall Street is clamoring for a serious assist from the Fed to boost the ailing economy one more time. Well, that did not happen, and disappointment set in pulling the rug out from any early upward momentum. As the chart from MarketWatch.com above shows, …
Dying Into The Close—Major Market ETFs Surrender Gains
If you were a bull, you must have been excited to watch the rally unfold as all major market ETFs gained strongly. But, what starts well does not always end well. This was the case today, as the morning rebound succumbed to profit taking in the afternoon in anticipation of what the Fed might announce tomorrow. Will it be the …
Greek Worries Are Still Alive—Equity ETFs Pull Back
After last week’s sharp rebound, equity ETFs were not only overbought, but also ‘over-hoped,’ as one trader put it. Concerns about a Greek default sooner rather than later, due to lack of a new austerity plan, pulled the markets lower right at the opening as selling accelerated. It looked pretty ugly for a while as several attempts to swing higher …
Equity ETFs Move to Upper End of Trading Range—Another Head fake?
Last Monday, I commented that the S&P 500 has been range trading over the past month from a low of 1,120 to a high of some 1,220. We are now approaching the high end of the range again, and the questions remains as to whether resistance will kick in again at that level or at 1,217, which represents the index’s …
Skepticism Prevails As Major Market ETFs Head Higher
The markets had nothing to go on other than hope and wishful thinking that Greece will be saved and remain in the European Union, while speculation grew that China may throw an assist to Europe’s indebted nations. However, skepticism set in towards the end of the trading day, as cooler heads prevailed by concluding that today may have been just …