Wednesday Outlook: Commodities, Global Markets

<< Return to page 1 - Those Pesky Earnings


















































So, now investors are interested in earnings. Okay, it’s about time. Just don’t believe the BS bulls put out to the financial media that PEs are cheap.

With prices still extended from the previous rally, any excuse to head to the exits exists. But, volume is unusually light and may have more to do with the impending Easter break than serious news.

It shouldn’t surprise if volume continues light or even shrinks further into tomorrow and Thursday.

I forgot to thank everyone who sent condolences and kind emails regarding the passing of our friend Greg Newton. I’ve received so many that my email inbox overflowed. Greg’s surviving relatives are his siblings in New Zealand and Australia. At their request, I’ve forwarded many of your comments to them and they’re very grateful.

Let’s see what happens.

Disclaimer: Among other issues the ETF Digest maintains positions in SPY, MDY, IWM, QQQQ, XLF, XLI, XLY, DBV, DBC, DBA, DBB, DBC, USL, XLE, MOO, EFA, EEM, EWA, EWZ, EWY and FXI.

The charts and comments are only the author’s view of market activity and aren’t recommendations to buy or sell any security. Market sectors and related ETFs 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 annotations aren’t predictive of any future market action rather they only demonstrate the author’s opinion as to a range of possibilities going forward.

Comments

[Professiona...:]

Thanks for the charts and the effort David. Good stuff with the morning coffee.

Apr 08 06:52 AM

[Seeking Advice:]

Dave, as always your charts and analysis are invaluable to understanding underlying trends. I'm primarily an index investor, not a trader, but believe that buy-and-hold must be applied with a very liberal (definitely not your type of word - I think you'd prefer 'flexible') approach. Believing, as you said that "...prices [are] still extended from the previous rally", I sold a small amount of equities and moved that to money markets. I never move much at a time as it's too easy to find the trend is not your friend... Thanks again for your charts and analysis.

Apr 08 09:06 AM

[AndrewBaker:]

No-one knows which way to go right now. We've had the bounce; results are coming, and whilst we all expect poor ones, who's going to sell first? And it's Easter, so many won't be doing anything until next week now. For an impatient trader, it's almost boring.

Apr 08 09:28 AM

[Artistes:]

Ditto. The easy money's been made. Be interesting to see how GLD and SLV shake out. Copper is still going strong and FCX continues to maintain on the high said relative to where it's been.

Apr 08 09:48 AM