In case you missed it, here’s a summary of the ETF topics and market reviews I posted to my blog during the week ending on 5/21/2012.
Seems like market behavior has been in repeat mode all month, as the benchmark S&P 500 index got spanked at the tune of -4.3% for the past week. It now has only about 1.49% to go before breaching its widely followed 200-day moving average. Any break below that level is sure to invite more selling.
The DJ Transports so far have been leading the way to the downside by crossing below the respective long term trend line by -1.83%.
Again, I sound like a broken record when reminding you that this is not the time to be a hero, but it is the time for capital preservation, as downside momentum has increased, which is supported by the continuously spreading debt problems in Europe. Follow your trailing sell stops and execute them when they get triggered.
This week, we covered the following: