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The Buying Stampede
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December 05, 2016

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 12-5-2016 3-23-43 PM SPDR

Apparently the pattern of selling into potential problems (BREXIT, U.S. Election & Last Night’s Italian Election Outcome) are catalysts for a buying stampede which remains the case for global stock markets in late 2016. As one analyst wrote, “I can’t justify any of this” but that’s the tape baby! So once again shorts were squeezed as European stocks rallied on the day despite the election outcome. Most attributed this to the invisible hand of the ECB’s Mario Draghi who they believed launched the “stick save” to rally markets. He is next up Thursday at the ECB meeting. What can he offer bulls next?

Who the hell knows!

12-5-2016 3-25-33 PM EWI 1

U.S. Sector leaders this day remain Small Caps (IWM) weekly.

12-5-2016 3-34-45 PM IWM

Regional Banks (KRE) are also strong within the financial sector as hopes for higher interest rates continues to be a well bid theme.

12-5-2016 3-37-32 PM KRE

The HI/LO Indicators, if shown, can be used to demonstrate why market change may soon appear whether the trend is rising or falling. Naturally daily, weekly and even monthly views reflect the possible time sequence these indicators may reflect. My experience in using these have made an impact 2/3rds of the time. That’s about as successful as most such indicators can make. 

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Dave Fry is founder and publisher of ETF Digest and has been covering U.S. and global ETFs since 2001.

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ETF Digest was awarded one of the most informative ETF websites in the 10th Annual Global ETF Awards.



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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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