Markets are running higher on fumes, meaning light volume. The eurozone was quiet with only the ECB active buying sovereign debt so that was pleasing to bulls. China remains in full easing mode which also pleased bulls and commodity markets. The euro shorts are being squeezed if only a little. And, the Fed is spinning another round of QE which seems pretty dumb but then it's an election year. They want to keep their jobs.
Earnings news overall in tech was good while bank rallies seem silly frankly.
Options expiration tomorrow and maybe volume will pick up but recently these events have been dull.
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: QQQ, QLD, IBB, XLY, XLI, XLK, VT, MGV, BND, BSV, VGT, VWO, VNO, IAU, DJCI, DJP, VMBS, VIG, ILF, EWA, IEV, EWC, EWJ, EWG, & EWU. 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 .