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|(Click Image to Enlarge/ ETF Rewind Glossary)|
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:
- U.S. Economic Calendar
- U.S. Earnings Calendar
- Historical Market Analogues
- ETF Rotation Models [Custom]
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.