Markets Tentative Before Holiday
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August 27, 2014

8-27-2014 3-48-51 PM NYSE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

News on the day was scattered and mixed. The major news surrounded the CBO’s much lowered estimate for 2014 GDP growth from 3.1% to only 1.5%. They do just as good a job as most economists or the IMF. And, speaking of the IMF, its head Christine Lagarde is at the center of a French court’s probe into her alleged negligence in a corruption investigation. (I guess the job attracts the hiring of flawed leaders remembering her predecessor DSK.)

Overseas China stocks were higher for the first time in three trading days as tech and autos led a modest recovery there. European stocks were mostly higher, if only modestly so. Emerging market stocks rose along with Latin America and selective Asian sectors.

U.S. stocks struggled throughout the day on ultra-light trading volume. It’s assumed Da Boyz left some privates in fox holes to guard their positions or at least a few HAL 9000s.

Leading market sectors higher included: Retail (XRT), Utilities (XLU), JP Morgan Alerian MLP (AMU), Taiwan (EWT), Australia (EWA), Singapore (EWS), Canada (EWC), Emerging Markets (VWO), Brazil (EWZ), UK (EWU), Italy (EWI), Belgium (EWK), Bonds (TLT) and Natural Gas (UNG).

Leading market sectors lower included: Banks (KBE), Regional Banks (KRE), Energy (XLE), Internet (FDN), Networking (IGN), Small Caps (IWM), Dollar (UUP), Solar (TAN), Hong Kong (EWH), China (FXI), Japan (EWJ), Russia (RSX) and Copper (JJC)

The top 20 market movers by percentage change in volume whether rising or falling is available daily.

We posted a short chart video of fast moving iPath Coffee ETF (JO) which is enduring a drought and crop infestation in Brazil.

Volume was, as you’d expect, light as the holiday weekend approaches. Breadth per the WSJ was by and large mixed.

8-27-2014 5-34-03 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

  • XLF WEEKLY

    XLF WEEKLY

  • KBE WEEKLY

    KBE WEEKLY

  • KRE WEEKLY

    KRE WEEKLY

  • IBB WEEKLY

    IBB WEEKLY

  • XLV WEEKLY

    XLV WEEKLY

  • XLE WEEKLY

    XLE WEEKLY

  • XRT WEEKLY

    XRT WEEKLY

  • XLY WEEKLY

    XLY WEEKLY

  • XLI WEEKLY

    XLI WEEKLY

  • XLU WEEKLY

    XLU WEEKLY

  • ITB WEEKLY

    ITB WEEKLY

  • ICF WEEKLY

    ICF WEEKLY

  • CVY WEEKLY

    CVY WEEKLY

  • TLT WEEKLY

    TLT WEEKLY

  • UUP WEEKLY

    UUP WEEKLY

  • FXC WEEKLY

    FXC WEEKLY

  • FXY WEEKLY

    FXY WEEKLY

  • GLD WEEKLY

    GLD WEEKLY

  • PPLT WEEKLY

    PPLT WEEKLY

  • JJC WEEKLY

    JJC WEEKLY

  • DBB WEEKLY

    DBB WEEKLY

  • DBA WEEKLY

    DBA WEEKLY

  • JO WEEKLY

    JO WEEKLY

  • USO WEEKLY

    USO WEEKLY

  • DBC WEEKLY

    DBC WEEKLY

  • VWO WEEKLY

    VWO WEEKLY

  • VGK WEEKLY

    VGK WEEKLY

  • EWU WEEKLY

    EWU WEEKLY

  • EWC WEEKLY

    EWC WEEKLY

  • EWZ WEEKLY

    EWZ WEEKLY

  • RSX WEEKLY

    RSX WEEKLY

  • EPI WEEKLY

    EPI WEEKLY

  • FXI WEEKLY

    FXI 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 MONTHLY

    VIX MONTHLY

    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.


     

 

 

 

Closing Summary

There’s not much in the way of economic data Wednesday. There isn’t much to comment on other than there is no volume. On that note it’s obvious many investors were washed out on the heavy volume sell-offs of early August. The subsequent light volume indicates they haven’t come back

Let’s see what happens.

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...

Headshot David Fry xsmall

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

He is the author of "Create Your own ETF Hedge Fund: A Do-It-Yourself Strategy for Private Wealth Management" published by Wiley Finance and "The Best ETFs: U.S. Equities, A Companion Guide to Building Your ETF Portfolio".



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Disclaimer

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
Gold1,288.60-1.60-0.12 %03:50
WTI Crude Futr94.890.340.36 % 03:18
Index Quotes Change Change % Local
CRB291.340.910.31 % 17:28
US Dollar82.530.010.00 % 17:00
Index Quotes Change Change % Local
VIX12.050.272.29 % 08/28
MSCI Value Daily MTD YTD
Brazil2632.479-0.61 %8.31 % 18.68 %
Russia663.016-3.31 %0.63 % -15.74 %
India508.241-0.32 %2.44 % 24.78 %
China65.899-0.95 %-0.16 %4.43 %