Latest Newsletter

  • ETF Tracker Newsletter For August 11, 2017

    ETF Tracker StatSheet


    [Chart courtesy of]

    1. Moving the Markets

    We saw a little bit of a recovery, after yesterday’s shakeout caused by N. Korea jitters, with the major indexes clawing back to close above the unchanged line. The gains were tiny but at least the Nasdaq had a solid showing with +0.64%; Semiconductors did even better by adding +0.92%.

    For the week, the S&P 500 surrendered -1.45%, which is not exactly earth shattering, or even noteworthy, given the magnitude of the post-election rally. Again, ZH posted a nice summary of the ups and downs of this most recent roller coaster ride:

    1. Dow’s worst week in 5 months (Mar ’17)
    2. S&P’s worst week since pre-election (Nov ’16)
    3. Russell 2000 worst week since Feb ’16
    4. Financials worst week in 5 months
    5. VIX biggest percentage spike since Aug ’15 (China Deval)
    6. HY Credit Risk biggest jump since election (Nov ’16)
    7. Silver’s biggest week since Jul ’16
    8. Gold’s biggest week since Apr ’16
    9. Offshore Yuan’s best week in 7 months (Jan ’17)

    Today’s bounce was not exactly awe inspiring, so we’ll have to wait and see if and how the N. Korea events shape up over the weekend. Other assets that were affected negatively during the past 5 trading sessions were Energy, Financials and Retailers with the latter suffering the greatest losses.

    The beneficiaries of this geopolitical uncertainty were bonds and gold. Bond yields dropped this week allowing the 20-year bond to rally although today it only added a meager +0.05%. Gold is now pushing against the $1,300 glass ceiling as it gained +2.32% for the week.

    After its recent dead cat bounce, the US Dollar (UUP) took a nosedive and headed back towards its 15-month low losing another -0.37% on the day.