By Jeff Pietsch
The majority of tracked ETFs ended the second week of the year lower on Friday's options expiration rout, including the S&P 500 (SPY), down -0.8%. Bucking the move were the "Safety Sectors," including Utilities (XLU), Consumer Staples (XLP) and Healthcare (XLV), Large-Cap Value (PWV +0.2%) stocks, and long-dated Treasuries (TLT +2.0%).
(Click Image to Enlarge/ ETF Rewind Glossary)
This corrective move left select Commodities (DBC) and Emerging Markets (EEM) the most oversold of the lot. Meanwhile, inasmuch as most equity indices have been tightly range bound, the S&P has likewise been unable to record back-to-back losses since December 7th and 8th. I wonder if we aren't overdue in that regard?
Holiday shortened week three of 2010 features the following reporting calendar and rotation model selections (a new feature for 2010!):
Hope you're having a terrific long weekend!
(Click to enlarge)