Weekly ETF Rewind: Dollar Pullback May Offer Year-End Relief to Equities

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 |  Includes: DBA, DBC, DBE, DBP, DIA, EEM, EFA, IWM, IYR, IYT, PWB, PWV, PXMG, PXMV, PXSG, PXSV, QQQ, SPY, TLT, UUP, XLB, XLE, XLF, XLI, XLK, XLP, XLU, XLV, XLY
by: ETF Prophet

By Jeff Pietsch

(Click image to enlarge/ Glossary)


Dollar strength on the back of the FOMC's quantitative easing withdrawal time line left the S&P 500 (NYSEARCA:SPY) down -0.3% even as the less sensitive Russel 2000 (NYSEARCA:IWM) finished up +1.7%. In as much as currencies often trend, the US Dollar (NYSEARCA:UUP) is now overbought on multiple time frames -- perhaps a brief pause or pull back will offer year-end relief to equities. Meanwhile, holiday-shortened week Fifty Two of 2009 features another busy economic calendar, including a Third Quarter GDP revision:

Happy Holidays to all of my Market Rewind readers!

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Disclosure: Never Investment Advice: Prior Weekly Summaries