ETF Market Trends: GDP Results Jump-Start Stalling Market

ETF Market Direction Summary: 10-29-2009

U.S. Equities: Thursday’s comments will be brief. The better than expected GDP results at 3.5% for 3Q-2009 caught bears, and even a few bulls, flatfooted. There were other events, but this was the primary catalyst for the movement in today’s market.

The approximately 200 point performance by the Dow Industrials was formidable enough to reverse its short-term downtrend. For the rest of the trend results, please refer to the trend tables below in this report.

With next week’s FOMC policy statement looming, I would anticipate the market to shift into neutral gear.

ETF 5 Day New Highs: Forex (FXB); Bonds (AGG, IEF, MBB, SHY, TIP). (Note * denotes 250 day new high)

ETF 5 Day New Lows: U.S. Equities (XLU, XLV, BBH, ITA, PPH); International Equities (GML); Commodities (UNG); Forex (CYB, ICN); Bonds (MUB); Real Estate (FIO, ICF, IYR, ITB, REM, REZ, RTL, XHB). (Note * denotes 250 day new low)

Signing off at Hillbent on the Market Direction and ETF Market Trends™…

Hillbent Market Direction Resources

Economic Calendar Events: Refer to U.S. Calendar or International Calendar

Postive & Negative Earnings Surprises: Refer to Hillbent’s earnings summary report for a detailed analysis of positive & negative earnings surprises

ETF Market Trends™ Monitor (10-29-2009)

U.S. Equity ETFs
Equity Indexes	Price	%Chg	Vol%	PMI	ST	MT	LT
DIA (DJ Industrials)	99.54	1.90%	15.85%	88	up	up	up
SPY (S&P 500)	106.65	2.15%	3.20%	89	down	up	up
QQQQ (Nasdaq 100)	42.09	1.69%	-16.50%	85	down	up	up
IWM (Russell 2000)	57.91	1.90%	49.53%	71	down	down	up
VXX (VIX Futures)	43.89	-4.94%	0.51%	12	down	down	down
Major Sectors	Price	%Chg	Vol%	PMI	ST	MT	LT
XLY (Consumer Discrtn)	27.54	2.68%	53.44%	86	down	up	up
XLP (Consumer Staples)	26.24	1.63%	71.94%	86	up	up	up
XLE (Energy)	57.43	2.66%	2.82%	92	down	up	up
XLF (Financials)	14.74	4.18%	15.26%	96	down	up	up
XLV (Health Care)	28.46	0.81%	0.76%	85	down	down	up
XLI (Industrials)	26.18	2.39%	6.91%	100	down	up	up
XLB (Materials)	30.43	2.98%	13.28%	81	down	down	up
XLK (Technology)	21.17	1.93%	30.03%	91	down	up	up
IYZ (Telecom)	17.77	0.79%	5.89%	71	down	down	up
XLU (Utilities)	28.93	0.87%	17.83%	86	down	down	up
Key Industries	Price	%Chg	Vol%	PMI	ST	MT	LT
ITA (Aerospace & Defense)	46.22	1.38%	3.41%	86	down	down	up
BBH (Biotech)	91.66	1.17%	54.19%	85	down	down	down
OIH (Oil Services)	122.08	3.36%	36.59%	80	down	up	up
PPH (Pharmaceuticals)	61.90	0.37%	77.57%	90	down	down	up
RKH (Regional Banks)	79.46	3.63%	37.70%	95	down	down	up
RTH (Retail)	91.93	2.11%	12.36%	89	down	up	up
SMH (Semiconductors)	24.84	2.05%	-32.02%	78	down	down	up
SWH (Software)	39.52	1.91%	-53.65%	98	down	up	up
SEA (Global Shipping)	12.87	4.55%	-41.31%	94	down	up	up
IYT (Transportation)	66.37	1.67%	70.62%	78	down	down	up
International Equity ETFs
Americas	Price	%Chg	Vol%	PMI	ST	MT	LT
ISI (S&P 1500)	47.76	1.96%	-17.95%	81	down	up	up
EWC (MSCI Canada)	24.61	3.10%	47.44%	90	down	down	up
EWW (MSCI Mexico)	45.27	4.45%	22.27%	87	down	up	up
ILF (Latin America 40)	45.16	6.56%	42.08%	91	down	up	up
EWZ( MSCI Brazil)	72.06	7.70%	50.75%	83	down	up	up
Europe	Price	%Chg	Vol%	PMI	ST	MT	LT
EWU (MSCI United Kingdom)	16.08	2.94%	-60.37%	85	up	up	up
EWG (MSCI Germany)	22.05	3.62%	-27.94%	83	down	up	up
EWQ (MSCI France)	25.73	3.42%	-68.96%	97	down	up	up
RSX (Mkt Vectors Russia)	29.83	8.12%	1.07%	92	down	up	up
VGK (Vanguard Europe)	50.38	3.66%	17.08%	89	down	up	up
IEV (S&P Europe 350)	39.08	3.36%	-31.37%	81	down	up	up
Asian-Pacific	Price	%Chg	Vol%	PMI	ST	MT	LT
EWA (MSCI Australia)	22.94	2.14%	77.38%	87	down	up	up
FXI (FTSE China)	43.23	2.47%	59.35%	77	down	up	up
EWH (MSCI Hong Kong)	15.81	1.87%	28.77%	56	down	up	up
IFN (India Fund)	29.46	3.51%	5.47%	89	down	up	up
EWJ (MSCI Japan)	9.67	1.58%	-29.48%	56	down	down	up
EWS (MSCI Singapore)	10.81	2.76%	24.90%	75	down	up	up
EWY (MSCI South Korea)	44.96	3.48%	-0.07%	86	down	up	up
EWT (MSCI Taiwan)	11.98	0.93%	20.13%	72	down	up	up
IF (Indonesia Fund)	9.58	4.13%	-22.73%	95	down	up	up
EWM (MSCI Malaysia)	10.75	1.99%	90.00%	88	down	up	up
VNM (Vietnam)	29.86	2.16%	54.91%	79	down	n/a	n/a
Emerging Markets	Price	%Chg	Vol%	PMI	ST	MT	LT
EEM (MSCI Emerging Mkts)	39.42	4.45%	35.80%	91	down	up	up
GMF (Emerging Asia Pacific)	69.31	1.09%	196.80%	69	down	up	up
GUR (Emerging Europe)	42.72	6.27%	39.97%	86	down	up	up
GML (Emerging Latin America)	73.17	4.93%	310.91%	74	down	up	up
GAF (Middle East & Africa)	60.00	4.04%	69.23%	92	down	up	up
EWX (Emerging Small Caps)	44.29	2.57%	206.25%	89	down	up	up
Alternative Assets
Commodities	Price	%Chg	Vol%	PMI	ST	MT	LT
GLD (Gold)	102.69	1.94%	0.49%	94	down	up	up
SLV (Silver)	16.41	3.47%	0.69%	100	down	up	up
DBB (Base Metals)	20.15	3.07%	-22.10%	78	up	up	up
JJC (Copper)	41.93	4.07%	18.42%	99	up	up	up
USO (Oil)	40.87	3.57%	-18.26%	76	up	up	up
UNG (Natural Gas)	10.46	1.05%	-38.80%	96	down	down	down
UGA (Gasoline)	37.17	2.64%	-26.36%	80	up	up	up
CRBQ (Global Commodities)	40.30	3.28%	-30.45%	76	down	n/a	n/a
DBC (Commodities)	24.19	3.07%	27.70%	85	up	up	up
JJG (Grains)	38.96	2.36%	3.34%	76	down	up	down
DBA (Agriculture)	26.08	2.50%	4.36%	83	down	up	up
Forex	Price	%Chg	Vol%	PMI	ST	MT	LT
UUP (U.S. Dollar)	22.57	-0.70%	59.57%	45	up	down	down
FXE (Euro)	148.12	0.78%	-18.67%	62	down	up	up
FXY (Japanese Yen)	108.60	-0.70%	-50.60%	39	up	up	up
FXF (Swiss Franc)	97.86	0.86%	-23.60%	85	down	up	up
FXB (British Pound)	164.94	0.91%	-2.76%	38	up	up	up
FXC (Canadian Dollar)	93.50	1.11%	21.04%	89	down	up	up
FXA (Australian Dollar)	91.72	2.04%	58.82%	75	down	up	up
FXM (Mexican Peso)	76.94	2.03%	75.17%	83	up	up	up
BZF (Brazilian Real)	26.71	2.97%	28.68%	86	down	up	up
CYB (Chinese Yuan)	25.30	0.04%	-16.62%	92	lateral	lateral	lateral
ICN (Indian Rupee)	24.74	0.73%	395.79%	68	down	up	up
XRU (Russian Ruble)	34.00	-0.32%	-90.00%	n/a	down	up	n/a
CEW (Emerging Currency)	21.83	1.06%	-20.30%	72	down	up	up
Bonds	Price	%Chg	Vol%	PMI	ST	MT	LT
SHY (1-3 Yr Tsy)	83.92	-0.08%	-15.70%	83	up	up	down
IEF (7-10 Yr Tsy)	91.31	-0.48%	-42.91%	51	down	down	down
TLT (20 Yr+ Tsy)	94.41	-1.09%	21.01%	41	down	down	down
TIP (Tsy Inflation Protect)	103.59	-0.03%	-10.37%	94	up	up	up
AGG (Investment Grade)	104.41	-0.20%	6.18%	43	down	up	up
MBB (Mortgage Bonds)	106.98	-0.09%	22.99%	36	up	up	up
JNK (Hi Yld Bonds)	38.18	0.87%	19.38%	72	down	up	up
HYG (Hi Yld Corp)	85.99	1.40%	79.82%	67	down	up	up
WIP (Int’l Inflation Protect)	56.91	1.08%	14.32%	86	down	up	up
EMB (Emerging Markets Bonds)	101.42	-0.01%	-63.36%	80	down	up	up
MUB (Nat’l Muni Bond)	102.81	-0.06%	-23.59%	44	down	down	up
Real Estate	Price	%Chg	Vol%	PMI	ST	MT	LT
IYR (DJ US Real Estate)	41.34	4.31%	20.77%	88	down	up	up
ICF (Cohen & Steers)	47.13	4.64%	79.31%	88	down	up	up
XHB (Homebuilders)	14.30	3.03%	22.04%	58	down	down	up
ITB (Home Construction)	11.49	2.32%	80.30%	47	down	down	up
FIO (Industrial Office)	20.63	1.98%	152.75%	0	down	down	up
REM (Mortgage Reits)	14.51	3.17%	111.43%	97	down	down	up
REZ (Residential Index)	27.14	0.67%	-87.53%	1	down	up	up
RTL (Retail Index)	19.11	1.81%	2.65%	9	down	up	up

*PMI measures strength of % daily trading range on scale of 0 to 100

**ST = Short-Term Trend; MT = Intermediate Trend; LT = Long-Term or Primary Trend

***Vol% measures % change in daily volume vs. average daily volume
Market Momentum Summary: 10-29-2009

Market Momentum	20-Day MA	50-Day MA	200-Day MA
Today	27.41%	51.54%	86.88%
Yesterday	50.65%	67.93%	89.65%
Last Week	70.40%	78.71%	91.96%
Last Month	78.19%	83.07%	92.24%

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