The combination of the weakening VIX and the high collection of DeMark daily 9 indicators presaged a rally. Usually the daily 9s are good for just a "trade" lasting no more than a week at most. But we are now dealing with hyper-fast and volatile market conditions. This many indicate shorter-term indicators have more impact for now.
After the close of trading Micron (MU and Bed Bath and Beyond (BBBY) reported poor results and stocks sold off. A lot of reports are missing estimates but are being brushed-off by bulls more interested in a seasonal rally.
GDP estimates for 3
quarter will be presented Thursday with consensus at 2%. Jobless Claims expected at 380K; Consumer Sentiment consensus 68; and, Leading Indicators consensus at .3%.
Let's see what happens.
Disclaimer: The ETF Digest maintains active ETF trading portfolio and a wide selection of ETFs away from portfolios in an independent listing. Current positions if any are embedded within charts. Active Portfolios: No Positions. Our Lazy & Hedged Lazy Portfolios maintain the follow positions: SH, EUM, EFZ, VT, MGV, BND, BSV, VGT, VWO, VNO, IAU, DJCI, DJP, VMBS, VIG, ILF, EWA, IEV, EWC, EWJ, EWG, EWU, EWD, 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