Named in the Top 10 ETF Blogs Every Serious ETF Investor Should Read in 2016.
It seems this bullish trend has plenty of momentum while ignoring any negative news. One issue which had launched the higher trend was a sharp move higher in energy prices but this now has reversed course. This reversal hasn’t put a dent in this newfound trend higher.
And no, there hasn’t been much in the way of great news on the earnings or economic front supportive on the news. Sure, we’ve seen isolated earnings from MSFT but nothing good from energy, airlines and banks. Economic data has been mixed at best. If this bullish trend is durable the news must, as always, follow the trend.
So record stock market highs must support higher PE’s which are currently near 25 for the S&P 500—nothing cheap there.
Below is the heat map from Finviz reflecting those ETF market sectors moving higher (green) and falling (red). Dependent on the day (green) may mean leveraged inverse or leveraged short (red).
Volume is very low while breadth per the WSJ was positive once again.
Just one more week of posting for the Fryguy and it could be a doozy!.
Let’s see what happens.
Dave Fry is founder and publisher of ETF Digest and has been covering U.S. and global ETFs since 2001.
Named as one of the Top 22 ETF Experts You Need To Follow on Twitter for continuing to deliver high quality analysis and commentary through the ETFDigest Twitter feed.
ETF Digest was named in the Top 50 Investing Blogs.
Ranked #16 in the Top 25 Best ETF Newsletters in 2015.
ETF Digest was awarded one of the most informative ETF websites in the 10th Annual Global ETF Awards.
Disclaimer: The charts and comments are only the author's view of market activity and aren't recommendations to buy or sell only any security. Market sectors and related ETF's are selected based on his opinion as to their importance in providing the viewer a comprehensive summary of market conditions for the featured period. Chart annotation's aren't predictive of any future market action rather they only demonstrate the author's opinion as to a range of possibilities going forward. More detailed information, including actionable alerts, are available to subscribers at www.etfdigest.com
|WTI Crude Futr||29.10||-0.34||-1.15 %||16:22|
|US Dollar||96.90||0.15||0.16 %||16:42|
|Brazil||953.961||0.36 %||-0.52 %||-7.94 %|
|Russia||376.088||2.60 %||-6.20 %||-7.08 %|
|India||405.432||2.63 %||-5.21 %||-11.78 %|
|China||49.561||3.54 %||-4.42 %||-16.57 %|
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