Major Market ETFs Rise On Economic Data; FCG Explodes, VROM Sputters; Will The EU Summit Be Successful?

Ulli Market Commentary Contact

[Chart courtesy of MarketWatch.com]

Major Market ETFs rose for the second straight day on Wednesday following stronger than expected data on durable goods and housing, and ahead of a key European summit meeting starting tomorrow.

Treasuries remained near flat after the US government auctioned $35 billion in five-year notes with yields trading at less than a quarter percentage point above record lows amid relatively weak demand.

After rising about 112 points during the day’s trade, the Dow Jones Industrial Average (DJIA) vaulted 92.34 points. The blue-chip index has advanced in two sessions among three, thus clawing back nearly all the losses suffered Monday. 24 of the 30 components within Dow rose for the day.

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7 ETF Model Portfolios You Can Use – Updated through 6/26/2012

Ulli Model ETF Portfolios Contact

In a complete reversal, the S&P 500 headed back down again since last week’s portfolio report by dropping -2.8%. The markets continue to rally off the latest hopeful news from Europe only to be disappointed when major announcements turn into nothing but hot air.

Additionally, the Fed’s continuation of operation twist caused disappointment on Wall Street as traders had hoped for the mother of all bailouts to be enacted which then was to be followed by a rally into the stratosphere.

Obviously, this did not happen, and we’re bouncing around aimlessly without clear direction. I expect this to continue until a major market disappointment will push our Domestic Trend Tracking Index (TTI) into bear market territory, after which all bets are off.

Here’s the latest model portfolio update:

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US Stocks Inch Up On Europe, Housing Data; DBA Pops, VIXY Slips

Ulli Market Commentary Contact

[Chart courtesy of MarketWatch.com]

US stocks finished higher Tuesday as investors turned slightly bullish on signs of improvement in the housing market, although clouds continue to hang over the markets ahead of the EU summit meeting scheduled for Thursday and Friday this week.

Treasuries retreated as risk sentiments improved over speculation that European leaders were progressing over resolving the ongoing sovereign crisis. US Treasury notes pushed ahead, recovering from the day’s lowest level after German Chancellor disapproved proposals for Eurobonds which requires shared responsibility of the region’s liabilities.

The Dow Jones Industrial Average (DJIA) climbed 0.3 percent, after rising more than 74 points and sinking more than 50 points as the indexes turned choppy during the day’s trade. 18 among the Dow’s 30 components closed the day higher.

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Equities Slide Ahead Of Key Brussels Meeting; EGPT Soars, GREK Sinks

Ulli Market Review Contact

As investors became worried ahead of a key meeting this week in Brussels (rightfully so), and after reports of Greek Finance Minister resigning on health grounds just four days into his job hit the wires, US equities plummeted more than one percent Monday.

Moods were soured further after Cyprus became the fifth nation in the single-currency union to seek money from the region’s lifeboat funds to prop up its struggling banks, citing massive losses from Greek debts.

US Treasuries advanced over news that German Chancellor Angela Markel has turned down proposals for joint euro-area wide bonds and deposit insurance schemes, terming them incorrect and counterproductive. Ms. Merkel argued in favor of a political union and called for stronger oversight mechanism instead, pouring cold water on Spain, Italy and France’s for an early solution to reign-in spiraling borrowing costs.

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ETFs/Mutual Funds On The Cutline – Updated Through 6/22/2012

Ulli ETFs on the Cutline Contact

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 202 (last week 219) of them are hovering in bullish territory.

The second report includes only High Volume ETFs. To clarify, High Volume (HV) ETFs are defined as those with an average daily volume of $10 million or higher.

These ETFs are generated from my selected list of some 93 that I use in my advisor practice. It cuts out the “noise,” which simply means it eliminates those ETFs that I would never buy because of their volume limitations. 34 ETFs (last week 36) have managed to remain in bullish territory after the recent market volatility.

The third report covers Mutual Funds on the Cutline. There are currently 494 (last week 551) above the line and 367 below it out of the 861 that I follow.

Take a look:

1. ETF Master Cutline Report

2. ETF High Volume Cutline Report

3. MF Cutline Report

In case you are not familiar with some of the terminology used in the reports, please read the Glossary of Terms.

Last Week In Review: ETF News And Blog Posts To 6/24/2012

Ulli Market Review Contact

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 6/24/2012.

Some reality set in as the Fed disappointed the markets by not providing a freshly spiked punchbowl causing the major indexes to slip sharply on Thursday. The damage for the week, however, was only minor as the bulls had shoved the S&P 500 higher leading up to the Fed announcement.

Continued weak domestic economic data, combined with the ever worsening European debt crisis, will make it difficult for the markets to find some solid footing but, as we’ve seen in the past, a few well placed rumors will get the bulls stampeding.

I have doubts if any rebounds will have staying power, as the Eurotanic will take center stage in the weeks and months to come.

This week, we covered the following:

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