Sunday, May 3, 2009

ETF Rewind - Week 18 (05/01/09)

(Click Image to Enlarge/ Glossary)

After battling Swine (H1N1) Flu pandemic fears out of the gate, all of the broad indices nevertheless finished the week higher, with the S&P500 (SPY) up +1.4%. As highlighted previously, a number of the more beta-oriented equity indices ultimately finished bullishly above their long-term moving averages, including the NASDAQ100 (QQQQ), Emerging Markets (EEM), Consumer Discretionaries (XLY), and Technology (XLK). All that said, interesting how Utilities led the week (XLU +4.6%)! Among the tracked equity indices, only Financials (XLF) and Real Estate (IYR) fell back ahead of the formal "stress-test" results scheduled for next week Thursday.

Week Nineteen of 2009 features the following earnings and economic calendar, including a Friday jobs report:

Although overbought conditions have repeatedly been addressed intra-week with the now familiar post-Monday blues recovery pattern, note within the Price Index column how overbought readings are once again creeping across multiple ETFs. Enjoy Your Weekend!

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