Markets Remain Resilient
0
July 21, 2014

7-21-2014 5-43-17 PM POGO

There wasn’t much in the way of economic or earnings news Monday. Markets were in a vacuum and thus only had geopolitical issues to focus on in early trading.

As a consequence markets opened weak but by midday much of the losses were made back as investors looked positively toward earnings reports further in the week.

Tuesday brings more economic data including the CPI, FHFA House Price Index, Existing Home Sales and Richmond Fed Mfg Index. After the close of trading Apples (AAPL) much anticipated earnings will be released.

Some important restaurant shares Chipotle (CMG) are hurting due to higher food costs while McDonalds (MCD) and YUM Brands (YUM) were stung by revelations they were selling dated meats. That hurt Consumer Discretionary (XLY) where those names are heavyweights.

Meanwhile Russian sanctions have led to a rise in energy prices and a decline in some European markets. Ongoing violence in Gaza and East Ukraine cause gold to rise slightly. Developing stories include the flight from High Yield Bonds (HYG) in favor of higher quality issues is gaining traction while Small Caps fell again.  

Leading market sectors higher included: Utilities (XLU), India (EPI), Emerging Markets (VWO), Brazil (EWZ), Latin America (ILF), Indonesia (IDX), Thailand (THD), Solar (TAN), Crude Oil (USO), Base Metals (DBB), Silver (SLV) and Bonds (TLT).

Leading market sectors lower included: Retail (XRT), Consumer Discretionary (XLY), Materials (XLB), Consumer Staples (XLP), Russia (RSX), High Yield Bonds (HYG), Germany (EWG), European Monetary Union (EZU), Sweden (EWD), Austria (EWO), Italy (EWI), France (EWQ), Grains (JJG) and Natural Gas (UNG).

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

Volume declined by nearly half from Friday and breadth per the WSJ was negative.

7-21-2014 5-44-27 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

  • KRE WEEKLY

    KRE WEEKLY

  • XLB WEEKLY

    XLB WEEKLY

  • OIH WEEKLY

    OIH WEEKLY

  • IYR WEEKLY

    IYR WEEKLY

  • XLP WEEKLY

    XLP WEEKLY

  • XLY WEEKLY

    XLY WEEKLY

  • XRT WEEKLY

    XRT WEEKLY

  • HYG WEEKLY

    HYG WEEKLY

  • JNK WEEKLY

    JNK WEEKLY

  • TLT WEEKLY

    TLT WEEKLY

  • UUP WEEKLY

    UUP WEEKLY

  • FXE WEEKLY

    FXE WEEKLY

  • GLD WEEKLY

    GLD WEEKLY

  • SLV WEEKLY

    SLV WEEKLY

  • DBB WEEKLY

    DBB WEEKLY

  • USO WEEKLY

    USO WEEKLY

  • DBA WEEKLY

    DBA WEEKLY

  • JJG WEEKLY

    JJG WEEKLY

  • VEA WEEKLY

    VEA WEEKLY

  • VGK WEEKLY

    VGK WEEKLY

  • EZU WEEKLY

    EZU WEEKLY

  • EWD WEEKLY

    EWD WEEKLY

  • EWG WEEKLY

    EWG WEEKLY

  • EWI WEEKLY

    EWI WEEKLY

  • THD WEEKLY

    THD 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.


     

Closing Summary

Again, we’ll have more serious economic data Tuesday not to mention Apple earnings after the close of trading.

Let’s see what happens.


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

...

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".



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
Gold1,306.60-6.60-0.50 %03:20
WTI Crude Futr104.920.330.32 % 02:40
Index Quotes Change Change % Local
CRB298.441.020.34 % 17:28
US Dollar80.620.000.00 % 16:59
Index Quotes Change Change % Local
VIX12.810.756.22 % 07/21
MSCI Value Daily MTD YTD
Brazil2562.0401.73 %7.18 % 15.50 %
Russia672.870-2.91 %-8.99 %-14.49 %
India491.5550.30 %-0.21 %20.68 %
China62.444-0.59 %1.55 % -1.04 %