Weekly ETF Rewind: Short Term Top or Consolidation Before Pop?

US Equities spent the week going sideways with the S&P 500 (SPY) finishing higher by +0.4%. The largest gainer for the week was Agriculture (DBA +3.2%), while Liquid Fuels suffered a small decline (DBE -1.2%). Speaking of which, DBA, DBP, XLK and IYR continue to look somewhat overbought in spite of last week's pause.

(Click Image to Enlarge/ Glossary)

Among the broader indices, while intraday performance showed early signs of potential exhaustion, it is still not clear whether this is a short-term tradeable top, or another consolidation period before yet another push higher.

Week Thirty-Six of 2009 features a busy economic and reporting calendars, including the Friday Jobs report, as follows:

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

Click to enlarge:

Enjoy your weekend!

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Comments

[squark62:]

the trend says consolidation before pop...however pops are getting steeper & short lived each time.

Aug 30 12:27 PM

[Stock Gambler:]

OK, I'll bite... what is the purpose of the Title of the article if you don't give your opinion and reasons for what you believe is the answer to your question?

Aug 30 01:57 PM

[Erick Tippett:]

Pop, top, geschlop! We can all read charts by now. So what?
Geflop!

E. Tippett
Chicago, Illinois

Aug 30 09:13 PM