"UDN, FXE, GLD, UGL, SLV, AGQ, SLW, USO, UCO", "GDP estimate and ISM index"
Home sales, both existing and new, surpassed the forecasts .. probably owing to the super low mortgage rates in the past 3 months and michican sentiment index rose to 75.3 little higher than the anticipated number.
Some internal indicators slowing down .. but monthly funding of retirement funds on the first of the month should support prices ..
Fear is fading and bullishness is driven by central bank liquidity measures .. Caution is warranted, protecting your capital should be priority now ..
For the week starting February 20th, the market Sectors Returns (week over week) and Internals were the following:
SP 500: 0.33%
- Volatility Index % change, VIX = -2.64%
- Short term bond rate (average of 3 year and 5 year) = 0.66%
- 10 year Treasury yield = 1.98%
- Small Cap (IWM): -0.18%
- Latin America (ILF): -0.02%
- Europe (IEV): 1.45%
- Emerging Markets (EEM): 0.59%
- Commodities (DBC): 3.45%
- Long term Bonds (TLT): 0.79%
- US Dollar Index, 8 DMA: 79.26
- Gold, (GLD) change: 2.92%
- Put/Call Ratio, total of equity/Index = 1.09
- Bull/Bear Ratio, Investors Intelligence survey =
- NYSE (New Highs - New lows), 8 DMA = 208.02
Next Week's economic calendar:
- Durable Orders - 2/28
- GDP estimate - 2/29
- ISM index, Auto sales - 3/1
