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 4/7/2013.
It was a week of meandering as the major indexes made new highs but follow through buying was thoroughly lacking. The markets look tired here and even the Fed’s relentless money printing efforts seem to have only so much firepower left.
Nevertheless, the major trends, according to my Trend Tracking Indexes (TTIs), remain up, although internationally upward momentum has clearly slowed down as the week ending TTI numbers in Friday’s report confirm.
No matter how much lipstick the mainstream media has put on Friday’s jobs report, the result was simply a flop given where the alleged economic recovery is supposed to be at in this cycle. However, remember in this planned and stimulated market environment good news is good news and bad news is good news as well.
It simply means that hopes are suddenly alive again, after voices to the contrary last week that the Fed’s punch bowl will continue to provide the necessary power to drive these markets, since not only the hoped for employment improvements are nothing but a dream for the time being also any reduced monetary action is sure to pull the indexes off their lofty levels with a vengeance.
Over past week, we covered the following: