Weekly ETF Rewind: Markets Take a Breather

Markets took a breather last week with the S&P500 (SPY) down about forty-one basis points. In fact, only the safety plays, such as Utilities (XLU), Consumer Staples (XLP), and Healthcare (XLV), were able to record slim advances.

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Week Thirty-Three of 2009 features the following economic and reporting calendars (yes, there are still big-name earnings report to come!):

• Yahoo! - U.S. Economic Calendar
• Yahoo! - U.S. Earnings Calendar

Most short-term technical indicators are neutral after the late-week pullback. It will be curious to see how the often positive options expiration week expectancy plays against mildly waning price momentum.

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