Saturday, June 19, 2010

ETF Rewind - Week 24 (6/18/10)

(Click Image to Enlarge/ ETF Rewind Glossary)

Markets continued their march higher on falling volatility with a growing slate of tracking indices recapturing their ten-month moving averages. In fact, the week's action left the S&P 500 (SPY) higher by +2.4%.

While this has been a very nice recovery, the number of short-term overbought readings has also increased and those falling fifty-day moving averages may be tempting for short-sellers to re-initiate positions just overhead. Lastly, looking at the ranks underlying our rotation models, I see that the current US Dollar (UUP) safety position just merely missed being eclipsed by small-caps (IWM). That would be a bullish development indeed -- but we aren't quite there yet.

Nearing the mid-point of the year, Week Twenty-Five of 2010 brings housing, durable goods and a Wednesday Federal Open Market Committee Rate Statement, as follows:
I hope you have a terrific weekend!

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 over 200 ETFs across twelve major asset classes, you will find three model portfolios, daily market signals and commentary, pairs trading, rotation modeling, and various powerful portfolio management tools.

Never Investment Advice: Prior Weekly Summaries: ETF Rotation Models

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