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 8/19/2012.
The low volume story continued, and the major indexes managed to crawl higher on uneven economic data with not much coming out of Europe except the occasional sound bite about the support of the Euro.
I expect next week to be somewhat of a repeat with more reality hitting the markets after the Labor Day weekend. A lot will be at stake next month given the widely anticipated decision from the German courts as to the constitutionality of the ESM, which has been widely touted as the savior of the European debt crisis.
As important will be any announcement by the Fed regarding the next quantitative easing (QE) program along with its European counterpart ECB head Mario Monti making good on his market propelling promise that the next plan of action “will be enough.”
I for one can’t wait to see his ideas but, given past history, it may have been just the usual amount of empty jawboning, which the Europeans have elevated to a fine art level.
Nevertheless, all of the above have contributed to the current market rally, so any forthcoming disappointment will be a joyous event for the bears, which are more than ready to strap the lead boots on to the bulls.
Over past week, we covered the following: