End of Quarter Window Dressing
0
March 30, 2015

3-30-2015 6-03-44 PM Window

All it took was some rumor about China wanting to ease (QE) further combined with more M&A action, bulls were all too ready to dress the quarter to show positive moves.

Sure there’s another trading day left in the month but bulls have made a statement.

Economic data included some mixed data but Pending Home Sales leaped to 106.9 vs 103.7 expected & prior 103.7. (So much for bad weather theme!). Personal Income up to 0.4% vs 0.3% expected & prior 0.4%. Spending 0.1% vs 0.2% expected & prior-0.2%. Dallas Fed Mfg Survey imploded to -17.4 vs -9 expected & prior -11.2. (Oil industry no doubt).

Courtesy of ZH below is the “bad news is good” mantra remains in markets. A point of emphasis is Goldman Sachs just lowered first quarter GDP to just 0.8%.

3-30-2015 6-04-27 PM SP

Leading market sectors higher included: All equity sectors.

Leading market sectors lower included: Bonds (TLT), Gold (GLD), Gold Miners (GDX) and SLV (SLV)                                                                

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

Volume remained light on this ramped & camp day while breadth per the WSJ was positive.

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3-30-2015 6-05-27 PM Diary

Charts of the Day
  • SPY 5 MINUTE

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  • SPY DAILY

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  • SPX WEEKLY

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  • INDU WEEKLY

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  • RUT WEEKLY

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  • NDX WEEKLY

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  • XLB WEEKLY

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  • IBB WEEKLY

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  • IYT WEEKLY

    IYT  WEEKLY

  • IYR WEEKLY

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  • ITB WEEKLY

    ITB WEEKLY

  • TLT WEEKLY

    TLT WEEKLY

  • UUP WEEKLY

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  • FXE WEEKLY

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  • FXY WEEKLY

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  • GLD WEEKLY

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  • GDX WEEKLY

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  • SLV WEEKLY

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  • JJC WEEKLY

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  • USO WEEKLY

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  • DBA WEEKLY

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  • EFA WEEKLY

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  • EWG WEEKLY

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  • EWY WEEKLY

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  • EWZ MONTHLY

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  • RSX MONTHLY

    RSX MONTHLY

  • 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.

A “bull trap” highlighted last week’s action as markets are moving back and forth within a trading range.

This has been marked by short-term trading as investors sell the range tops and buy lows.

This doesn’t do the average investor much good. One thing of note is the tremendous liquidation liquidation as sellers have outnumbered buyers by a large amount.

This is something to ponder.

Also, let’s remember “window dressing” may be all the rally Monday is all about as there are portfolio management fees at stake. This may follow again to a lesser extent Tuesday since many managers are paid based on a higher index and nothing further.

Let’s see what happens.

 

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...

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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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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
Gold1,186.00-13.40-1.12 %03/30
WTI Crude Futr48.71-0.16-0.33 %17:13
Index Quotes Change Change % Local
CRB214.25-0.91-0.42 %17:28
US Dollar98.22-0.09-0.09 %17:00
Index Quotes Change Change % Local
VIX14.51-0.56-3.72 %16:14
MSCI Value Daily MTD YTD
Brazil1493.756-2.66 %-14.61 %-18.48 %
Russia468.651-0.96 %-5.03 %15.74 %
India512.9110.08 %-5.96 %3.33 %
China69.1170.08 %-0.87 %4.66 %