Sunday, August 2, 2009

ETF Rewind - Week 31 (07/31/09)

(Click Image to Enlarge/ Glossary)

The S&P500 (SPY) tacked on another +0.8% gain last week for a four-week increase of +10.0%. Looking at last week's table above, it is readily apparent how: a) the risk trade has been back on; and, b) how we remain intermediate-term overbought even as very short-term indications have come nearly back to normal.

Week Thirty-Two of 2009 features another very busy earnings and economic calendar, including the Friday Job's report:

While we remain in this largely abnormal market environment and as a follow-through to the most recent analogous periods prediction, the twenty-week range forecast for the SPX has once again been lifted from lows of 930 to highs of 1,080 (shown below). It's that March 2003 match that particularly caught my eye. Have a Terrific Weekend!


Never Investment Advice
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