ETF Rewind: Equities Finish the Period Heavily Oversold

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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

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(Click Image to Enlarge/ ETF Rewind Glossary)
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Having spent nearly the entire week in a downtrend, equities finished the period heavily oversold, as underscored by the extreme RSI chart readings below and the sea of red on the summary table above. This action left the S&P 500 (NYSEARCA:SPY) lower by a full -3.6%, even as the US Dollar (NYSEARCA:UUP) managed a rebound of equal magnitude. However, as oversold as price is, I am concerned by the market’s inability to bounce and will trail tight stops under Monday’s trade.

Week Thirty-Three of 2010 features another busy economic reporting calendar, including various housing and industrial production reports:

Lastly, for the day traders among you, you are invited to experiment with our new Mrkt_Movers inter-market/sector heat map tool, which you may find useful.