The S&P 500 Index climbed to all-time highs of 1,597.57 yesterday as bullish euphoria reigned supreme following encouraging economic data releases on the day. Investors rejoiced after Case-Shiller home price data came in above expectations and the latest consumer confidence reading came in at 68.1, marking a sizable improvement from last month’s figure of 61.3 [See S&P 500 Visual History]. Our ETF to watch for today is the Industrial Select Sector SPDR , which should see an uptick in trading activity as investors react to the latest ISM Manufacturing data. Analysts are expecting for the ISM figure to come in at 50.5, which would mark a small contraction from last month’s reading of 51.3. Chart Analysis Consider XLI’s one-year daily performance chart below. Since the start of Wall Street’s rally on November 16th, 2012, this ETF climbed higher within a well-defined upward sloping channel (blue lines) up to its peak at $42.16 a share on [...] Click here to read the original article on ETFdb.com. Related Posts: ETF Insider: Hedge Your Bullish Bets This Week ETFdb Weekly Watchlist: XRT, FXI, XLI Hinge On Manufacturing And Consumer Data Big Oil, Commodities And Large-Cap Earnings On Tap: IYE, MOO, XLB ETF Insider: How To Play Earnings This Week Daily ETF Roundup: Stocks Close Lower On First Day Of Q2
The S&P 500 Index climbed to all-time highs of 1,597.57 yesterday as bullish euphoria reigned supreme following encouraging economic data releases on the day. Investors rejoiced after Case-Shiller home price data came in above expectations and the latest consumer confidence reading came in at 68.1, marking a sizable improvement from last month’s figure of 61.3 [See S&P 500 Visual History]. Our ETF to watch for today is the Industrial Select Sector SPDR , which should see an uptick in trading activity as investors react to the latest ISM Manufacturing data. Analysts are expecting for the ISM figure to come in at 50.5, which would mark a small contraction from last month’s reading of 51.3. Chart Analysis Consider XLI’s one-year daily performance chart below. Since the start of Wall Street’s rally on November 16th, 2012, this ETF climbed higher within a well-defined upward sloping channel (blue lines) up to its peak at $42.16 a share on [...]
Click here to read the original article on ETFdb.com.
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