If you were still fully invested in equity ETFs this morning, after the markets opened, this was indeed a very long day for you. The indexes slipped right out of the starting blocks and never looked back, as relentless selling pushed the major market ETFs to their worst one-day loss since December 2008. Worries persisted that the U.S. economy will …
ETF Market Update
I will post a special ETF market update later on this afternoon once the figures for the Domestic TTI (Trend Tracking Index) have become available. Look for it by about 5 pm PST. Ulli…
Major Market ETFs Break Support Levels
Life after the completion of the endless debt ceiling debate proved to be a challenge for Wall Street, as finally the economic reality sank in that all is not well with the alleged 2nd half recovery. With today’s sharp selloff, serious technical damage was done, as widely watched major trend lines were violated, which could invite more selling. Especially disheartening …
International Trend Tracking Index (TTI) Remains In Sell Mode
After bouncing around its long-term trend line for the past couple of weeks, the International TTI (Trend Tracking Index) finally fell back below it by -0.88%. As I wrote previously, I had been holding back issuing a new ‘Buy’ for “broadly diversified international funds/ETFs” due to lack of follow through to the upside. The goal was to avoid a whipsaw …
Gold ETFs Shine
With the stock market mired in a bit of uncertainty, after last week’s run, it was the gold ETFs who brightened the day. As the chart shows (courtesy of MarketWatch.com), the major market ETFs lacked direction and essentially went nowhere. Follow through buying from last week was non-existent as exuberance seemed to wane. None of today’s news reports supported the …
Major Market ETFs Manage A Turnround
By any measure, market activity looked pretty ugly this morning, as the major market ETFs opened sharply to the downside in what appeared to be the Bernanke hangover. In addition, worries about domestic and global economies were supporting the plunge. However, the S&P 500’s 200-day moving average again proved to be a springboard, as buyers started to come in and …