Weekly ETF Rewind: Commodities, Financials, Emerging Markets Hit Hard

Includes: DBC, EEM, XLF
by: ETF Prophet
(Click Image to Enlarge/ ETF Rewind Glossary)

The S&P 500 (NYSEARCA:SPY) broke it’s winning streak, recording a weekly loss of -2.1%. However, it was Commodities (NYSE:DBC), Financials (NYSEARCA:XLF) and Emerging Markets (NYSEARCA:EEM) that got hit especially hard, all down over -4% on the week.

Nevertheless, just as last week’s report suggested we were well overbought, so too are we now fairly oversold going into a POMO heavy week with prospectively strong seasonality and technical support just below. Can the Bernanke put continue to work its magic after being continuously priced into the market for well over two months?

Week Forty-Six of 2010 features a fairly busy economic reporting calendar kicking off with Retail Sales on Monday, as follows:

[Click to enlarge]

Disclaimer: Never investment advice