Saturday, March 7, 2009

ETF Rewind - Week 10 (03/06/09)

(Click Image to Enlarge/ Glossary)

Last week's bear market extension left the S&P500 (SPY) down another -6.8%, now some -57% below its October 2007 highs. Small caps and the Financials showed relative weakness (IWM -10.1%; XLF -18.7%), while Commodities managed to post a slight gain (DBC +0.5%). In spite of the grim jobs report (US News - What You Should Know), retail sales came in above expectation led by the discounters (Reuters - US Sales Beat).

Week Eleven of 2009 provides us with a somewhat lighter reporting calendar, as follows:

The market's persistent inability to rally will have traders guessing over the weekend whether or not Friday's action represented the start of a key reversal. We'll learn soon enough. Enjoy your weekend!

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