In spite of Friday’s tug-of-war between the US Dollar (UUP +1.0%) and the unexpectedly positive Jobs report (see WSJ, HP), all of the the major indices recovered nicely from the Dubai news with the S&P 500 (SPY) up +1.3% for the week. Even the recently beleaguered Small Caps (IWM +4.9%) but in a strong showing, potentially auguring well for a year-end rally. While Energy (XLE) looks about as oversold as the Transports (IYT) look overbought, the market overall maybe considered in neutral territory when considering many short-term oscillators.
Week Fifty of 2009 (is that even possible!) features a much more subdued but no less important economic calendar, featuring consumer credit, wholesale inventory and retail sales reports:
- Yahoo! – U.S. Economic Calendar
- Yahoo! – U.S. Earnings Calendar
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. I hope that you had a terrific weekend.
Never Investment Advice: Prior Weekly Summaries
