Welcome Guest
 
Oh The Joy, Nasdaq Hits 5000
0
March 02, 2015

Stocks rose as the NASDAQ Composite Index revisited 5000 for the first time since dotcom bubble days.

Many will assert it being a different index now and it is.

Nevertheless the drive to take out 5000 appears to be all Monday was about for bulls.

Economic data Monday was disappointing on balance as Personal Income was flat at 0.3% vs 0.4% expected & prior 0.3% while Spending continued lower to -0.2% vs 0.0% expected & prior -0.3%. And the PCE Price Index, the Fed’s favorite fell to –0.5% vs -0.4% expected & prior -0.2%. Dueling manufacturing surveys were mixed as the PMI Mfg Index rose to 55.1 vs 54 expected & prior 53.9 while the ISM Mfg Index fell to 52.9 vs 53 expected & prior 53.5. Lastly Construction Spending fell sharply to -1.1% vs 0.3% expected & prior 0.4%. Weather was the culprit they’ll say for poor construction spending.

While most eyes were glued on the NASDAQ, overseas there were more rumblings from Europe that Greece would need a third bailout. No doubt this is was to be expected since once the ECB et al caved to Greek demands they’ll just keep bailing them out.

Headlines of course get ahead of things nowadays as another headline on MarketWatch stated “Apple could see $1 trillion valuation on car potential”. Yeah, that bluster definitely reminds me of dotcom days.

Leading market sectors higher included: S&P 500 (SPY), Dow (DIA), Tech (QQQ), Financials (XLF), Consumer Discretionary (XLY), Retail (XRT), Small Caps (IWM), REITS (IYR), Healthcare (XLV), Biotech (IBB), Industrials (XLI), Materials (XLB), South Korea (EWY), International REITs (RWX), Hedged Japan (DXJ), Crude Oil (USO) and India (EPI).

Leading market sectors lower included: Energy (XLE), Gold Miners (GDX), Gold (GLD), Silver (SLV), Mexico (EWW), Brazil (EWZ), Russia (RSX), Treasury Bonds (TLT), Corporate Bonds (LQD) and Inflation Protected Bonds (TIP).                                                           

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

Volume was once again quite light and breadth per the WSJ was positive.

Sign up to become a premium member of the ETF Digest and receive more of our detailed charts with actionable alerts.

You can follow our pithy comments on twitter and become a fan of ETF Digest on facebook

3-2-2015 6-25-42 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

  • IGV WEEKLY

    IGV WEEKLY

  • IGN WEEKLY

    IGN WEEKLY

  • FDN WEEKLY

    FDN WEEKLY

  • SMH WEEKLY

    SMH WEEKLY

  • XLB WEEKLY

    XLB WEEKLY

  • XLE WEEKLY

    XLE WEEKLY

  • XLF WEEKLY

    XLF WEEKLY

  • XLI WEEKLY

    XLI WEEKLY

  • XLV WEEKLY

    XLV WEEKLY

  • IBB WEEKLY

    IBB WEEKLY

  • IYT WEEKLY

    IYT  WEEKLY

  • LQD WEEKLY

    LQD WEEKLY

  • TLT WEEKLY

    TLT WEEKLY

  • UUP WEEKLY

    UUP WEEKLY

  • FXE WEEKLY

    FXE WEEKLY

  • FXY WEEKLY

    FXY WEEKLY

  • GLD WEEKLY

    GLD WEEKLY

  • GDX WEEKLY

    GDX WEEKLY

  • SLV WEEKLY

    SLV WEEKLY

  • JJC WEEKLY

    JJC WEEKLY

  • USO WEEKLY

    USO WEEKLY

  • DBC WEEKLY

    DBC WEEKLY

  • DBA WEEKLY

    DBA WEEKLY

  • EFA WEEKLY

    EFA WEEKLY

  • IEV WEEKLY

    IEV WEEKLY

  • HEDJ WEEKLY

    HEDJ WEEKLY

  • EWJ WEEKLY

    EWJ WEEKLY

  • DXJ WEEKLY

    DXJ WEEKLY

  • EEM WEEKLY

    EEM WEEKLY

  • GREK WEEKLY

    GREK 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 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 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.


Sign up to become a premium member of the ETF Digest and receive more of our detailed charts with actionable alerts.

You can follow our pithy comments on twitter and become a fan of ETF Digest on facebook


...

Headshot David Fry xsmall

Dave Fry is founder and publisher of ETF Digest, MarketWatch columnist 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"



Archives
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
Gold1,207.50-7.20-0.59 %16:54
WTI Crude Futr49.790.030.06 % 16:40
Index Quotes Change Change % Local
CRB221.98-2.10-0.94 %16:28
US Dollar95.51-0.01-0.01 %16:43
Index Quotes Change Change % Local
VIX13.04-0.30-2.25 %16:14
MSCI Value Daily MTD YTD
Brazil1749.2600.64 %2.23 % -4.53 %
Russia493.469-0.65 %22.82 % 21.87 %
India545.4141.31 %1.82 % 9.88 %
China69.720-0.40 %3.24 % 5.58 %