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 7/1/2012.
Sharp losses early in the week were made up during last trading day of the month as the EU summit produced some agreement to help out Italian and French banks via a direct lending scheme.
Given the fact that these types of summits have in the past produced nothing of substance, any hopeful announcement turned out to be better than nothing and that provided sufficient ammunition to ramp the markets higher into a strong month end close.
As I posted a few days ago, I doubt that this euphoria will last for more than a few days as the devil is the details, which have not been worked out or agreed upon yet. These days, it does not take much more than an attention grabbing headline out of Europe to get the bulls excited; usually such response ends up being ephemeral in nature.
This week, we covered the following: