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 11/11/2012.
Some fireworks went off after Election Day pulling the major market indexes sharply lower with the S&P 500 surrendering 2.4% over the last week.
With just about all serious economic issues having been postponed due to the election battle, reality hit Wall Street that all may not be well domestically and internationally causing the sudden slide in the market.
Whether this is the beginning of a move back into bear market territory remains to be seen; so far our Trend Tracking Indexes (TTIs) have stayed on the bullish side of their respective trend lines but have weakened considerably.
To me, more downside momentum can easily be generated by external forces such as the European debt crisis, or more specifically Greece, which is due to run out of money on November 16. And, of course, Spain is not that far behind. If the funding spigot gets shut off, we will have a guaranteed disaster on our hands that will affect markets worldwide.
Over past week, we covered the following: