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 8/5/2012.
In a repeat from the prior week, the S&P 500 dropped four days in a row only to make up all and then some on Friday ending the past five trading days slightly to the plus side.
It was one out of two big events with a positive spin, namely the employment report that came in not great, when looking at the big picture, but better than expected. After the Fed and Draghi disappointment a couple days earlier, this one data point was sufficient to please the bulls into staging a comeback.
As I pointed out Friday, since the Fed is looking for economic weakness to justify more QE, this may have given them a new timeline to delay any planned new program. How well that will go over with Wall Street’s traders remains to be seen.
Over past week, we covered the following: