ETF Tracker StatSheet https://theetfbully.com/2019/04/weekly-statsheet-for-the-etf-tracker-newsletter-updated-through-04-25-2019/ Q1 GDP Blows Through Expectations [Chart courtesy of MarketWatch.com] Moving the markets The Q1 GDP number blew through expectations by soaring 3.2% annualized, which was some 50% higher than the 2.3% forecast. However, when looking under the hood, analysts realized that one-time items such as a surge in inventories and a smaller trade deficit are simply …
Markets Under Pressure
[Chart courtesy of MarketWatch.com] Moving the markets The markets came under pressure this morning with the Dow dropping some 250 points right at the opening. 3M was the contributor to this downside move as earnings disappointed, but more importantly, the company slashed forward guidance for 2019 and reduced its workforce by 2,000. The punishment was immediate with the stock skidding …
Digesting Yesterday’s Gains
[Chart courtesy of MarketWatch.com] Moving the markets Last Monday, I wrote how the direction of bond yields affects the performance of low volatility ETFs, such as SPLV, compared to the underlying index. Here’s what I said: Case in point is the S&P 500, represented by SPY, which managed to eke out a gain of +0.10% during today’s session. It’s conservative …
Upside Breakout
[Chart courtesy of MarketWatch.com] Moving the markets When markets get stuck in a tight sideways trading range, as we’ve seen over the past couple of weeks, a breakout, either to the downside or upside, will transpire sooner or later. It may not always be clear what causes such a breakout, but it occurred today with the bulls taking charge and …
Nearing Record Highs—On The Lowest Volume In Months
[Chart courtesy of MarketWatch.com] Moving the markets The major indexes, led by the Dow, made another attempt at breaking into record territory but failed with upward momentum lacking. Trading volume was the lowest in months meaning there was not much conviction to drive the markets higher. The theme was a repeat of what we’ve seen over the past five trading …
Directionless Wavering
[Chart courtesy of MarketWatch.com] Moving the markets It was a weak Wednesday with the major indexes wandering aimlessly after the release of the Fed’s Beige book showed that “economic activity grew at a slight-to-moderate pace” in March and early April. Upward pressure on wages indicated a tight labor market, however, retail and auto sales were sluggish. Speaking of the former, …