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| (Click Image to Enlarge/ ETF Rewind Glossary) |
Having spent nearly the entire week in a downtrend, equities finished the period heavily oversold, as underscored by the extreme RSI chart readings below and the sea of red on the summary table above. This action left the S&P 500 (SPY) lower by a full -3.6%, even as the US Dollar (UUP) managed a rebound of equal magnitude. However, as oversold as price is, I am concerned by the market’s inability to bounce and will trail tight stops under Monday’s trade.
Week Thirty-Three of 2010 features another busy economic reporting calendar, including various housing and industrial production reports:
- U.S. Economic Calendar
- U.S. Earnings Calendar
- Historical Market Analogues
- ETF Rotation Models [Custom]
Lastly, for the day traders among you, you are invited to experiment with our new Mrkt_Movers inter-market/sector heat map tool, which you may find useful. I hope you are having 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
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