Currently, a clear long-term trend can’t be found anywhere among the major indexes. If you look at charts of the Dow Industrials, Transportations, Nasdaq, S&P; 500 and others, they’re all in the process of forming large tops, which can have dire downside consequences, unless a breakout to the upside occurs. Very typical of representing a market top is our Domestic …
Reader Feedback on ETFFX
Several readers emailed comments regarding last Saturday’s post covering ETFFX. Here’s what Glenn had to say: It looks like they are using something similar to a 60 day SMA of SPY to make decisions. Sometimes they apparently are not 100% ‘in’ though, resulting in underperformance in an up market. And looks like they occasionally use some other criteria, or don’t …
No Load Fund/ETF Tracker updated through 7/29/2010
My latest No Load Fund/ETF Tracker has been posted at: http://www.successful-investment.com/newsletter-archive.php Sideways meandering left the major indexes almost unchanged from last week, but up for the month of July. Our Trend Tracking Index (TTI) for domestic funds/ETFs held above its trend line (red) by +2.50% (last week +2.62%) and remains in bullish mode. The international index has now broken above …
Dancing Around The Trend Line
The battle of earnings vs. economic data continued yesterday as the markets declined slightly but essentially went nowhere. The Fed’s beige book simply repeated what Fed chairman Bernanke already elaborated on over the past couple of weeks that the economy has lost some steam with not much hiring going on in addition to continued sluggish real estate markets. As far …
Taking A Breather
After the recent run, the markets took a breather yesterday with the S&P; 500 resting right on its 200-day moving average of 1,114. Attempts of breaking above that level proved to be ephemeral in nature as the 1,121 level was only touched and sideways movements prevailed for the remainder of the session. Not helping matters was a gloomy report on …
More On the International Buy Signal
As I mentioned in last Friday’s weekly update, the International TTI (Trend Tracking Index) crossed its long-term trend line to the upside, and a new buy signal was generated effective Monday, July 26, 2010. If you decide to participate, be sure to use ETFs (as opposed to mutual funds), if you can, should this cycle to turn out to be …