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Oversold Market Rally: Dave's Daily

There seems to be some success with the reactor according to the BBC which is good news. This may relieve some tension and worry. There's still the MENA issues at hand and possible airstrikes, which if they occur, would appear late as Gadhafi is closing the noose around the rebels. In the meantime, another series of protest could occur in Saudi Arabia after Friday prayers and the crackdown in Bahrain intensifies.

A lot of event risk remains in the news and stock prices.

Economic news is mixed. While good reports on Jobless Claims and the Philly Fed please inflation pressures are building no matter how officialdom deny it.

Long-term, Japan will recover given their strong and resolute culture. In the short to intermediate term a large economy is in shutdown mode hurting earnings, employment and the global economy.

Friday is options and futures expiration and it's impossible to say how this will affect markets.

The Fed is going to announce its bank dividend policy. When done on a Friday, it no doubt will be market friendly.

Letâ¿¿s see what happens. You can follow our pithy comments on twitter and join the conversation on facebook.

 

Disclaimer: Among other issues the ETF Digest maintains positions in: EFZ, EUM, EEV, GLD, SLV, VT, MGV, BND, BSV, VGT, VWO, VNO, IAU, DJCI, DJP, VMBS, VIG, ILF, EWA, IEV, EWC, EWJ, EWG, EWU, BWD, GXG, THD, AFK, BRAQ, CHIQ, TUR, & VNM

 

The charts and comments are only the author's view of market activity and aren't recommendations to buy or sell any security.  Market sectors and related ETFs are selected based on his opinion as to their importance in providing the viewer a comprehensive summary of market conditions for the featured period.  Chart annotations aren't predictive of any future market action rather they only demonstrate the author's opinion as to a range of possibilities going forward. More detailed information, including actionable alerts, are available to subscribers at www.etfdigest.com .

 

This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.

Dave Fry is founder and publisher of ETF Digest, Dave's Daily blog and the best-selling book author of Create Your Own ETF Hedge Fund, A DIY Strategy for Private Wealth Management, published by Wiley Finance in 2008. A detailed bio is here: Dave Fry.

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