I guess "all's well that ends well" would be as good a comment. That said, we still had another negative week. But, you could've taken the week off and returned only to wonder what the big deal was. TPTB
The Magnificent Seven and one Dwarf. Continue to Currency & Commodity Market ETFs
Continue to Overseas Sectors & ETFs
The NYMO is a market breadth indicator that is based on the difference between the number of advancing and declining issues on the NYSE. When readings are +60/-60 markets are extended short-term. The McClellan Summation Index is a long-term version of the McClellan Oscillator. It is a market breadth indicator, and interpretation is similar to that of the McClellan Oscillator, except that it is more suited to major trends. I believe readings of +1000/-1000 reveal markets as much extended. The VIX is a widely used measure of market risk and is often referred to as the "investor fear gauge". Our own interpretation is highlighted in the chart above. The VIX measures the level of put option activity over a 30-day period. Greater buying of put options (protection) causes the index to rise. Continue to Concluding Remarks
Economic data over the week and the past two days was unremarkable to poor. Yet we rallied Thursday. Why? Because we were oversold going into the day. Friday's rally was based loosely on Retail Sales which were unremarkable as well. Disregarded completely was poor economic data for Business Inventories and dreadful for Consumer Sentiment. The latter were ignored completely. Why? You tell me since HFTs don't give a rip about fundamentals. Further what bulls are out there must believe with poor data QE3 is all but a certainty. Next week is more economic data featuring Empire State Mfg Survey (Monday), Housing Starts and Industrial Production (Tuesday), PPI (Wednesday), and Jobless Claims, Existing Home Sales and Philly Fed (Thursday). More earnings reports will come with most centered on retailers. 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. Our Lazy & Hedged Lazy Portfolios maintain the follow positions: SH, EFZ, EUM, VT, MGV, BND, BSV, IEF, LQD, 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 .