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Our technical rotation models’ call to remain in currencies and bonds ended up being the correct one as equities moved relentlessly lower for a -3.5% week-over-week decline in the S&P 500 (SPY). Even worse off were Consumer Discretionaries (XLY -5.1%) and Energy (XLE -5.6%) on the slower than anticipated final GDP readings. However, breadth and short-term relative strength indicators hooked a bit higher Friday, we’ll see if that can’t mount into a small recovery going into the end-of-month/ quarter.
The mid-point of the year, Week Twenty-Six of 2010 brings the following busy reporting calendars:
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
