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The S&P 500 (SPY) broke it’s winning streak, recording a weekly loss of -2.1%. However, it was Commodities (DBC), Financials (XLF) and Emerging Markets (EEM) that got hit especially hard, all down over -4% on the week.
Nevertheless, just as last week’s report suggested we were well overbought, so too are we now fairly oversold going into a POMO heavy week with prospectively strong seasonality and technical support just below. Can the Bernanke put continue to work its magic after being continuously priced into the market for well over two months?
Week Forty-Six of 2010 features a fairly busy economic reporting calendar kicking off with Retail Sales on Monday, as follows:
- U.S. Economic Calendar
- U.S. Earnings Calendar
- Planned Open Market Operations
- Historical Market Analogues
- ETF Rotation Models [Custom]
I hope you are having a terrific weekend!
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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
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