Greek Overhang Weighs Down on Major Market ETFs

Ulli Market Review Contact

[Chart courtesy of MarketWatch.com]

Further uncertainty in Greece sent major market ETFs into the red, with the S&P 500 falling 0.54%. Despite weakness in equities and the Euro inching back down toward $1.30/Euro, gold and oil were on the upside.

The primary catalyst for the pessimistic mood continues to be delays surrounding the Greek bailout, or lack thereof. There has been talk that EU officials are trying to come up with a way to push the bailout into April in light of Greece’s political dissension.

As if playing a game with no end in sight, I’m afraid that Europe wants to keep pushing its problems out considering the amount of difficulty in arriving at a solution. With this in mind, market risk will most probably heighten significantly in the coming days.

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7 ETF Model Portfolios You Can Use – Updated through 2/14/2012

Ulli Model ETF Portfolios Contact

Momentum slowed over the past week with the S&P 500 adding only 0.3%. Will Greece receive new bailout money, or not, has been the main question as the Eurozone Finance ministers will have the final say if and when funds will be released.

Opinions abound that Greece will head for a default anyway, a view that I share, and this possibility has the markets somewhat on edge. Technically, we are due for a rebound anyway and, if that is coupled with a disorderly default, it will most likely magnify downside momentum.

Again, it’s important that you establish your exit strategy now, during times of calmness, so you don’t get stressed out when the market heat is on.

Take a look at the latest ETF Model Portfolio update:

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A Timid Day for Equity ETFs

Ulli Market Review Contact

[Chart courtesy of MarketWatch.com]

Markets were relatively stagnant today despite the cancellation of a Greek bailout meeting. The atmosphere is becoming increasingly tense as the deadline looms, putting Greece’s chances of receiving bailout funds in jeopardy.

Despite flatness in equities, the 10-year Treasury dipped to 1.92%, a sign that investors remain in a risk adverse mood. A disorderly default in Greece could propel further flight to safety.

To add more insult to injury, Greece’s economy contracted almost 7% in 2011, meaning that there will be plenty of suffering in 2012 and the following years due to the new, stricter austerity measures. Greek PM Papademos has noted that a failure to resolve the country’s predicament can quickly lead to chaos.

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Major Market ETFs Rally Following Greece’s Vote

Ulli Market Review Contact

[Chart courtesy of MarketWatch.com]

The major market indexes retraced Friday’s sell off, and then some, as Greece’s parliament voted in favor of strict financial reforms in order to receive the latest bailout package of at least $130 billion Euros.

Athens burned for most of the night as protestors rioted and questioned the wisdom of having to endure more hardship after years of recessionary conditions along with an unemployment rate that is approaching 21% and likely to get worse.

It’s still uncertain whether the bailout will actually go through, as the Eurozone Finance Ministers will meet this Wednesday and will have to be convinced that Greece will abide all terms.

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ETFs/Mutual Funds On The Cutline – Updated Through 2/10/2012

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 332 (last week 340) 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. 67 ETFs (last week 72) have managed to move into in bullish territory after the recent run up.

The third report covers Mutual Funds on the Cutline. There are currently 762 (last week 774) above the line and 99 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

Last Week In Review: ETF News And Blog Posts To 2/12/2012

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 2/12/2012.

Friday’s pullback left the major indexes almost unchanged for the last week. All eyes are now on the (hopefully) final act of the Greek debt opera as party infighting continued while the realization of a dark and unknown future seems to have sunk in.

February 15th has been announced as a cutoff point to agree on a new bailout deal. Otherwise, sufficient funds to meet the March repayments will not be available.

This week, we covered the following:

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