Green Friday As Bulls Cheer China Rate Cut
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November 21, 2014

11-21-2014 6-39-24 PM Green Friday

China cut its interest rate from 6% to 5.4% given recent weak industrial and real estate reports. This sent a sharp bullish message through markets. While the ECB did nothing but talk, Mario Draghi once again stated he was ready to do everything it would take reflate the eurozone’s economy. (I guess over there talk’s not cheap since that’s all Draghi seems to do.) This cheered investors generally but the euro fell victim and U.S. holders didn’t get the benefit of sharp gains there. But, for the first time since fall, emerging markets, led by China’s rate cut rose substantially.

Given easy money talk around the globe, this sent many commodity sectors, include precious metals, higher. The dollar rallied sharply once again. U.S. markets rallied sharply early and then faded late in the day as tech and small caps were relatively weaker. To be sure, the financial media got their new all-time highs for the two major indexes which will play well with Main Street.

Leading market sectors higher included: Financials (XLF), Energy (XLE), Crude Oil (USO), Materials (XLB), Metals & Mining (XME), REITs (IYR), Industrials (XLI), Homebuilders (ITB), Dollar (UUP), Bonds (TLT), China (FXI), China Small Caps (HAO), South Korea (XLY), Taiwan (EWT), Australia (EWA), Asia ex-Japan (AAXJ), Hong Kong (EWH), India (EPI), Thailand (THD), Indonesia (IDX), China A Shares (CNXT), Brazil (EWZ), Brazil Small Caps (BRF), EAFE (EFA), Europe (VGK), Germany (EWG), UK (EWU), Spain (EWP), Palladium (PALL), Coal (KOL), Silver (SLV) and many more.

Leading market sectors lower included: Banks (KBE), Regional Banks (KRE), VIX (VXX),                                                                      

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

Volume increased markedly from the past two weeks. Breadth per the WSJ was mostly positive.

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11-21-2014 6-40-24 PM Diray

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

  • XLB WEEKLY

    XLB WEEKLY

  • XLE WEEKLY

    XLE WEEKLY

  • XLF WEEKLY

    XLF WEEKLY

  • XLI WEEKLY

    XLI WEEKLY

  • XLY WEEKLY

    XLY WEEKLY

  • XRT WEEKLY

    XRT WEEKLY

  • XME WEEKLY

    XME WEEKLY

  • FDN WEEKLY

    FDN WEEKLY

  • SOCL WEEKLY

    SOCL WEEKLY

  • IYR WEEKLY

    IYR WEEKLY

  • ITB WEEKLY

    ITB 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

  • DBB WEEKLY

    DBB WEEKLY

  • DBA WEEKLY

    DBA WEEKLY

  • USO WEEKLY

    USO WEEKLY

  • DBC WEEKLY

    DBC WEEKLY

  • EFA WEEKLY

    EFA WEEKLY

  • IEV WEEKLY

    IEV WEEKLY

  • DBEU WEEKLY

    DBEU WEEKLY

  • EEM WEEKLY

    EEM WEEKLY

  • EWZ WEEKLY

    EWZ WEEKLY

  • RSX WEEKLY

    RSX WEEKLY

  • EPI WEEKLY

    EPI WEEKLY

  • GXC WEEKLY

    GXC WEEKLY

  • NYMO DAILY

    NYMO  DAILY

    The NYMO i s 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

So many charts, so little time. I could post another 30-40 charts but my staff would kill me. You get the general idea and theme of Friday. I know many people will be taking much of next week off but I’ll still be around for the most part.

Let’s see what happens.

 

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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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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
Gold1,202.406.900.58 % 16:55
WTI Crude Futr76.660.811.07 % 16:20
Index Quotes Change Change % Local
CRB269.100.950.35 % 16:27
US Dollar88.360.660.75 % 16:43
Index Quotes Change Change % Local
VIX12.90-0.68-5.01 %16:14
MSCI Value Daily MTD YTD
Brazil2022.4930.42 %-6.87 %-8.82 %
Russia568.1622.11 %-4.90 %-27.80 %
India520.0790.34 %0.07 % 27.69 %
China62.4380.10 %-2.91 %-1.05 %