In case you missed it, here’s a summary of the ETF topics that I posted to my blog during the week ending on 8/7/2011.
Another sharp downside week pushed the major domestic indexes to the edge of slipping into bear market territory, according to my Domestic TTI.
After Friday’s close, Standard & Poor’s announced the downgrade of U.S. debt from AAA to AA+ with a questionable outlook. My guess is that market reaction will be very volatile for a day or so until that news and possible implications have sunk in. On the other hand, maybe some of this news has already been priced in, as it was expected, but the timing of it was the big unknown.
In any event, if you followed my sell stops rules, you should not have any equity exposure at this time with the exception of a couple of sector/country ETFs.
This week, we covered the following: