Tuesday Outlook: Commodities, Emerging Markets

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Monday was a reality check once again fundamentally. Technically many market sectors that had been rallying are pushing up against resistance. Furthermore, a flood of DeMark weekly 9 sequential indicators are flashing for many markets. The latter could just indicate a pause in the recent rally or something more serious. Time will tell.

Markets may now just move sideways, barring other news, until employment data is released on Friday. That should be a show.

Have a pleasant day.

Disclaimer: The ETF Digest maintains positions in TLT and TBT.

Comments

[jmward22:]

David:
Re: XLF Monthly Chart

I checked my monthly chart on XLF and it had a start value of 20.055 on 12-31-98. The last monthly value was 24.390. I believe that this works out to 22% .instead of 10%.

Thanks,
Jim

2008 Jun 03 10:16 AM

[Geoffrey Lordi:]

XLF closed at 23.31 on its first day, 19.78 if you had since reinvested dividends.

GL

2008 Jun 03 10:24 AM

[David Fry:]

You guys make good points. I was just looking at the "zone" eyeballed from the monthly charts since inception and thought we were 10% or so from entering that area.

2008 Jun 03 02:50 PM

[specks:]

I'm new to this analysis. What do the numbers represent on the "9's" chart?

2008 Jun 04 10:26 AM