• Dow Jones Industrial Average Largely Immune To Social Media Meltdown

    16 days ago - By ETF Daily News

    Market technician Dave Chojnacki of StreetOne Technical Analysis kicks off the new trading week with a recap of last week's market action and an update on the underlying technicals for the major U.S. averages.
    The Major indices opened higher on Friday after a good GDP number. The GDP came in at 4.1% for the 2nd Quarter. The administration believes strong numbers are sustainable. Will this have an impact on Fed tightening? Time will tell.
    Equities were unable to maintain their strength and quickly reversed to the downside. Techs were getting hit the hardest as Twitter was getting crushed...
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  • New Week Brings Fresh Concerns For U.S., Foreign Markets

    New Week Brings Fresh Concerns For U.S., Foreign Markets

    16 days ago - By ETF Daily News

    From Chris Vermeulen : This past week has been very interesting in the US markets for a couple of reasons. It is time we took a hard look at what to expect going forward and how this news will likely drive future market moves.
    First, the Q2 GDP number came in as a huge boost to the US economy and for the future expectations of economic growth in the US. 4.1% GDP for Q2 is massive compared to the previous administrations GDP levels. Granted, these levels may not be sustainable in the long term above 4%, but we can only assume levels above 3% are going to last for a while unless something...
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  • S&P 500 Comes Into New Week With Mixed Signals

    S&P 500 Comes Into New Week With Mixed Signals

    16 days ago - By ETF Daily News

    From Jill Mislinski : The S&P 500 reached its weekly peak on Wednesday's close and fell back down by the end of the week. It closed up 0.6% from last week and hit its highest since January on Wednesday.
    The index is up 4.56% YTD .
    The U.S. Treasury puts the closing yield on the 10-year note at 2.96%.
    Here is a daily chart of the S&P 500. Today's selling puts the volume 11% above its 50-day moving average.
    Here's a snapshot of the index going back to December 2008.
    A Perspective on Drawdowns
    Here's a snapshot of record highs and selloffs since the 2009 trough.
    Here's a table with the number...
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