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(Click Image to Enlarge/ ETF Rewind Glossary)

In a retrace reminiscent of the early shots across the bow of 2007, a perfect storm of overbought conditions, peckish earnings responses, and political heat on the Fed and the banks left the majority of tracked ETFs down for a second consecutive week.  The move left the “priced for perfection” S&P 500 (SPY) lower by a whopping -5.0%, and equities generally as heavily oversold as they were overbought just a short while ago.  However, inasmuch as we are statistically due a significant bounce next week, whether and how that evolves will tell us a great deal about just how broken this bull market truly is.

Week four of 2010 includes the following busy reporting calendars, featuring an FOMC meeting, and rotation model selections (performance tracking added this weekend):

Have 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 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.

Never Investment Advice: Prior Weekly Summaries: ETF Rotation Models