INVESTORS PLAY THE WAITING GAME
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December 10, 2013

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Markets inched higher on ultra-light volume Tuesday as investors wait for more supportive data, most notably for the FOMC policy decision that will be announced next week.

Can bulls hold things together that long? That might take a lot of "propping" since markets don’t seem to have that much patience and are more susceptible to rumors and other manipulative shenanigans.

Stocks moved lower on the day and week. Market leaders were mostly in commodity markets like Gold (GLD), Gold Miners (GDX), Gold Junior Miners (GDXJ), Silver (SLV), Oil (USO), Base Metals (DBB), Solar (TAN) & Natural Gas (UNG). You’d be hard pressed to find many equity markets moving higher except those commodity linked markets which included: Materials (XLB), Russia (RSX), South Africa (EZA), Peru (EPU), Mexico (EWW) and Brazil (EWZ). Most equity market sectors were fractionally weaker. Bonds (TLT) were stronger while the dollar (UUP) continues to weaken.

As mentioned earlier, volume was once again very light and it seems investors are just sitting this one out until they get a better sense of a Fed taper. Breadth per the WSJ was negative. Due to light volume and lack of trading conviction we’ll keep this report short.

Our staff puts together the daily top 20 ETF market movers by percentage change in volume for gainers, decliners and emerging volume.

6-7-2013 10-30-59 AM Insert ad revised 6.7 color

12-10-2013 5-34-14 PM diary

 

Charts of the Day
  • SPY 5 MINUTE

    SPY 5 MINUTE

  • .SPX WEEKLY

    .SPX WEEKLY

  • INDU WEEKLY

    INDU WEEKLY

  • RUT WEEKLY

    RUT WEEKLY

  • NDX WEEKLY

    NDX WEEKLY

  • TLT WEEKLY

    TLT WEEKLY

  • UUP WEEKLY

    UUP WEEKLY

  • GLD WEEKLY

    GLD WEEKLY

  • GDX WEEKLY

    GDX WEEKLY

  • GDXJ WEEKLY

    GDXJ WEEKLY

  • USO WEEKLY

    USO WEEKLY

  • UNG WEEKLY

    UNG WEEKLY

  • DBB WEEKLY

    DBB WEEKLY

  • GCC WEEKLY

    GCC WEEKLY

  • EPU WEEKLY

    EPU WEEKLY

  • EWW WEEKLY

    EWW WEEKLY

  • EWZ WEEKLY

    EWZ WEEKLY

  • RSX WEEKLY

    RSX WEEKLY

  • NYMO

    NYMO

    The NYMO is a market breadth indicator that is based on the difference between the number of advancing and declining issues on the NYSE. When readings are +60/-60 markets are extended short-term.

  • NYSI

    NYSI

    The McClellan Summation Index is a long-term version of the McClellan Oscillator. It is a market breadth indicator, and interpretation is similar to that of the McClellan Oscillator, except that it is more suited to major trends. I believe readings of +1000/-1000 reveal markets as much extended.


     

  • VIX

    VIX

    The VIX is a widely used measure of market risk and is often referred to as the "investor fear gauge". Our own interpretation is highlighted in the chart above. The VIX measures the level of put option activity over a 30-day period. Greater buying of put options (protection) causes the index to rise.


     

...

 

Again, Wednesday has little in the way of economic indicators beyond MBA Purchases and Petroleum Status.

It won’t be until Thursday that any meaningful data is available.

Let’s see what happens.

 

 

 

 

 

 

 

 



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ETF Digest™
 

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

 

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