by Market Rewind
| (Click Image to Enlarge/ ETF Rewind Glossary) |
Equities made a furious dash higher on oversold conditions combined with several marginally better than expected economic reports and talks of status quo taxation, taking the S&P 500 (SPY) higher by +3.8%. The most impressive sector movers were the Financial (XLF) and Real Estate (IYR) sectors, both with whopping +5.8% gains. In contrast, Treasuries (TLT) recorded another -1.4% decline.
Throughout 2010, powerful moves off of cycle lows have been characterized by equally strong continuation. However, traders would be remiss not to notice the extended short-term overbought RSI readings across all tracked equity indices early next week….
Holiday shortened Week Thirty-Six of 2010 features a breezier economic reporting calendar, including publication of the Federal Reserve Beige Book report:
- U.S. Economic Calendar
- U.S. Earnings Calendar
- Historical Market Analogues
- ETF Rotation Models [Custom]
I hope you are having a terrific long weekend!
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