Mixed Market Action
0
November 24, 2014

Markets opened Monday with mixed action. Commodities overall resumed their previous slide, US tech stocks and small caps rallied while the Dow and S&P posted relatively weak results. Weakness was also evident overseas with emerging markets and some currencies. Nevertheless in some sectors new overall record highs were once again recorded.

U.S. economic data included: Chicago Fed Activity Index falls to 0.14 vs 050 expected & prior revised lower to 0.25; PMI Services Index Flash drops to 56.3 vs 57.8 expected & prior 57.30; and, Dallas Fed Survey was unchanged at 10.5.

Iran nuclear talks were extended 7 months. (Iranians needed more time to complete joining nuclear club). Western diplomats are such suckers while the Iranians laugh at our futility. The Israelis won’t be amused.

And, now comes forth the results of the Ferguson grand jury. The results are sure to offend competing forces.

Leading market sectors higher included: Small Caps (IWM), Tech (QQQ), Semiconductors (SMH), Financials (XLF), Banks (KBE), Regional Banks (KRE), Small Cap Value (VBR), Transports (IYT), Healthcare (XLV), Homebuilders (ITB), Biotech (IBB), Consumer Discretionary (XLY), Retail (XRT), Shipping (SEA), EAFE (EFA), Germany (EWG), Europe Stock 350 (IEV), European Monetary Union (EZU) and China Real Estate (TAO).

Leading market sectors lower included: Gold Miners (GDX), Junior Gold Miners (GDXJ), Natural Gas Producers (FCG), Energy Sector (XLE), Materials Sector (XLB), Utilities (XLU), Emerging Markets (EEM), Brazil (EWZ), India (EPI), Taiwan (EWT), Israel (EIS), Singapore (EWS), Australia (EWA), Agricultural Producers (MOO), Coal (KOL), Crude Oil (USO), Natural Gas (UNG), Platinum (PPLT) and Commodity Tracker (DBC).                                                                       

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

Volume was quite light and breadth per the WSJ were slightly positive. Money Flow below showed outflows.

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11-24-2014 6-45-01 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

  • XLB WEEKLY

    XLB WEEKLY

  • XLE WEEKLY

    XLE WEEKLY

  • XLF WEEKLY

    XLF WEEKLY

  • KBE WEEKLY

    KBE WEEKLY

  • KRE WEEKLY

    KRE WEEKLY

  • XLI WEEKLY

    XLI WEEKLY

  • XLV WEEKLY

    XLV WEEKLY

  • IBB WEEKLY

    IBB WEEKLY

  • XLY WEEKLY

    XLY WEEKLY

  • XRT WEEKLY

    XRT WEEKLY

  • XLU WEEKLY

    XLU WEEKLY

  • IYT WEEKLY

    IYT  WEEKLY

  • IYR WEEKLY

    IYR WEEKLY

  • ITB WEEKLY

    ITB WEEKLY

  • TLT WEEKLY

    TLT WEEKLY

  • UUP WEEKLY

    UUP WEEKLY

  • FXE WEEKLY

    FXE WEEKLY

  • FXA WEEKLY

    FXA WEEKLY

  • FXY WEEKLY

    FXY WEEKLY

  • GLD WEEKLY

    GLD WEEKLY

  • GDX WEEKLY

    GDX WEEKLY

  • SLV WEEKLY

    SLV WEEKLY

  • DBB WEEKLY

    DBB WEEKLY

  • USO WEEKLY

    USO WEEKLY

  • DBC WEEKLY

    DBC WEEKLY

  • EFA WEEKLY

    EFA WEEKLY

  • EEM WEEKLY

    EEM WEEKLY

  • EZU WEEKLY

    EZU WEEKLY

  • EWO WEEKLY

    EWO WEEKLY

  • EIRL WEEKLY

    EIRL WEEKLY

  • DXJ WEEKLY

    DXJ WEEKLY

  • EWZ WEEKLY

    EWZ WEEKLY

  • EPI WEEKLY

    EPI WEEKLY

  • AAXJ WEEKLY

    AAXJ WEEKLY

  • GXC WEEKLY

    GXC WEEKLY

  • PEK WEEKLY

    PEK 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

Like I said, it was a mixed bag Monday. Tuesday we get more economic data including: GDP, FHFA House Price Index, S&P Case-Shiller HPI; Consumer Confidence and Richmond Fed Manufacturing Index. Remember, Wednesday is even more data given that many will be leaving town early. Thursday markets are closed and Friday is a half-day just to annoy everyone.

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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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
Gold1,201.602.300.19 % 16:54
WTI Crude Futr73.79-1.99-2.63 %16:38
Index Quotes Change Change % Local
CRB266.85-0.34-0.13 %16:28
US Dollar88.190.000.00 % 16:42
Index Quotes Change Change % Local
VIX12.25-0.37-2.93 %16:14
MSCI Value Daily MTD YTD
Brazil2121.222-1.98 %-2.33 %-4.37 %
Russia585.5651.44 %-1.99 %-25.58 %
India525.3650.33 %1.09 % 28.98 %
China64.5952.96 %0.44 % 2.36 %