The NASDAQ and Small-Caps had their turn, while the DJIA took a break. This is encouraging for bulls IF it holds.
While we're on energy, let's look at PowerShares DB Energy Fund (NYSEARCA:DBE) which provides commodity exposure to crude oil, heating oil, gasoline and small weighting in natural gas.
All this takes us to gold and the dollar. Last week we noted a puny 1/4% rise in Bucky while gold fell 2%. This week Bucky continues to rise while gold held its ground. Just evening things up?
Then there are our friends overseas.
Let's look around at a few single-country ETFs.
Aside from worries about what China may or may not do to slow their white hot economy, most markets just seem to be alternating leadership from week-to-week or month-to-month. It's still a bull market until it isn't.
The charts above are "weekly" charts, and the most recent period just reflects today's action at the start of a week. Action should slow dramatically by Friday with the coming holiday weekend.
Disclaimer: Among other issues, the ETF Digest maintains long or short positions in: iShares Russell 2000 Index ETF (NYSEARCA:IWM), NASDAQ 100 Trust Shares ETF (QQQQ), MidCap SPDRs ETF (NYSEARCA:MDY), S&P 500 Index (NYSEARCA:SPY), First Trust DJ Internet Index ETF (NYSEARCA:FDN), iShares Goldman Sachs Software Index Fund (NYSEARCA:IGV), Rydex S&P Equal Weight Consumer Discretionary ETF (NYSEARCA:RCD), streetTRACKS KBW Bank (NYSEARCA:KBE), Rydex S&P Equal Weight Energy (NYSEARCA:RYE), PowerShares DB Energy Fund (DBE), streetTRACKS Gold Trust ETF (NYSEARCA:GLD), PowerShares DB Commodity Index Tracking Fund (NYSEARCA:DBC), iShares MSCI EAFE Index Fund ETF (NYSEARCA:EFA), iShares MSCI Emerging Markets ETF (NYSEARCA:EEM), iShares S&P Europe 350 (NYSEARCA:IEV), iShares S&P Latin America 40 Index Fund (NYSEARCA:ILF), iShares MSCI Australia Index Fund (NYSEARCA:EWA), iShares MSCI Germany Index Fund (NYSEARCA:EWG), iShares MSCI Canada Index ETF (NYSEARCA:EWC), iShares MSCI South Korea Index Fund ETF (NYSEARCA:EWY), iShares Trust FTSE-Xinhua China 25 Index Fund (NYSEARCA:FXI), iShares MSCI Hong Kong (NYSEARCA:EWH), and iPath MSCI India ETN (NYSEARCA:INP).