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 12/16/2012.
A minor upside breakout was quickly rebuffed as worry and lack of progress about the impending Fiscal Cliff kept the markets in a tight range with the S&P 500 giving back 4 points for the week.
Nothing was resolved that could put some smiles on the bullish crowd and, with recess looming next Tuesday, if this weekend does not bring the parties’ estranged views closer together, we will be sliding off the cliff come January.
However, if a sharp market pullback packs enough punch, it might just be enough to get the warring factions back to the negotiating table and create a retroactive solution. I am not sure whether that will happen, but the possibility exists. In the meantime, all bets are off as it is totally unknown, although widely opined, as to what market reaction might be.
A cautious investment stance is your best course of action.
Over past week, we covered the following: