Unstoppable Bulls
0
July 22, 2016

I Will Retire. Dave Fry

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).

7-22-2016 4-02-44 PM

Volume is very low while breadth per the WSJ was positive once again.

7-22-2016 4-46-19 PM

 

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12-17-2015 9-04-44 PM Chart of the Day

 

 

 

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Charts of the Day
  • SPY 5 MINUTE

    SPY 5 MINUTE

  • SPX DAILY

    SPX DAILY

  • SPX WEEKLY

    SPX WEEKLY

  • INDU DAILY

    INDU DAILY

  • INDU WEEKLY

    INDU WEEKLY

  • RUT WEEKLY

    RUT WEEKLY

  • NDX WEEKLY

    NDX WEEKLY

  • NYMO DAILY

    NYMO DAILY

    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 DAILY

    NYSI DAILY

    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 WEEKLY

    VIX WEEKLY

    The VIX is a widely used measure of market risk and is often referred to as the "investor fear gauge". Our own interpretation has changed due to a variety of new factors including HFTs, new VIX linked ETPs and a multitude of new products to leverage trading and change or obscure prior VIX relevance.


     

Just one more week of posting for the Fryguy and it could be a doozy!.

Let’s see what happens. 

...

Headshot David Fry xsmall

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

Named in the Top 10 ETF Blogs Every Serious ETF Investor Should Readin 2016.

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.

 



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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

 

ETF Digest

Market Summary
NYSE Composite Index S&P 500 Index Nasdaq Composite Index Russell 2000 Small Cap Index NYSE Composite Index S&P 500 Index Nasdaq Composite Index Russell 2000 Small Cap Index 10 Year Treasury Note Yield Gold Bugs Index Morgan Stanley High Tech 35 Index Market Chart
Commodity Quote Change Change % NY
Gold1,212.402.600.22 % 08:15
WTI Crude Futr29.10-0.34-1.15 %16:22
Index Quotes Change Change % Local
CRB158.87-1.50-0.93 %16:28
US Dollar96.900.150.16 % 16:42
Index Quotes Change Change % Local
VIX24.11-1.29-5.08 %16:14
MSCI Value Daily MTD YTD
Brazil953.9610.36 %-0.52 %-7.94 %
Russia376.0882.60 %-6.20 %-7.08 %
India405.4322.63 %-5.21 %-11.78 %
China49.5613.54 %-4.42 %-16.57 %