Sunday, November 8, 2009

ETF Rewind - Week 45 (11/06/09)


(Click Image to Enlarge/ Glossary)

Ten percent-plus unemployment be damned, the S&P500 (SPY) finished the week up +3.4% for its first positive performance in a number of weeks.  While the back-to-back plus days last week were most impressive, several indices are already beginning to look overstretched to the upside.  Certainly traders are pondering this weekend whether Friday's flattish trade was more bullish consolidation, or a 62%-Fibonacci, 20-day moving average resistance line setting us up for at least a brief reversal.

Week Forty-Six of 2009 features a slower reporting calendar:
If you are interested in a significantly more thorough version of this weekly summary, consider taking a look at Market Rewind's nightly ETF Rewind Pro service. In addition to coverage of nearly 200 ETFs across twelve major asset classes, you will find three model portfolios, daily market signals and commentary, pairs trading and various powerful portfolio management tools.  Enjoy your weekend!


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