Market Easing off Highs:
The S&P 500 is down slightly premarket after closing at
yet another all-time high yesterday. Investors are digesting a number of
earnings reports from overseas and have decided to slow down the buying this
morning. Remember that the market will not hit all-time highs everyday and that
you must be prepared for pullbacks as buying opportunities. RELATED ETFs: SPDR S&P 500 ETF (SPY)
Southeast Asia Concerns:
The IMF is sounding the horn again about concerns over the
potential bubble that could be forming in Southeast Asia. I find the entire
situation comical because all the IMF and other agencies do these days is
attempt to put a negative spin on everything. The region has been the strongest
in the world recently with markets hitting highs and the economies growing at a
robust pace. If the numbers were bad and the market was falling the IMF would
also be concerned. So ignore the headlines and concentrate on the real story –
Southeast Asia is strong and you should continue to ride the uptrend. RELATED ETFs: Global X FTSE ASEAN ETF
(ASEA), iShares Thailand ETF (THD), iShares Philippines ETF (EPHE), iShares
Singapore ETF (EWS), Market Vectors Indonesia ETF (IDX), iShares Malaysia ETF
(EWM)
Technology Stocks Lead Rally:
The large-cap Technology stocks led the market rally
yesterday with the SPDR Technology ETF (XLK) up 1.4% on the session and it is
now up 4% from a mid-April low. Apple (AAPL) tagged on 3.1% and IBM (IBM)
rallied 2.5% to lead the sector. The move in AAPL was significant because it
closed above the $420 resistance level and if it can continue the rally and
close above $433.50, the 50-day moving average, it will trigger more buying
interest. Apple is currently trading at $432.50 in premarket action. RELATED ETFs: Apple (AAPL), IBM (IBM),
SPDR Technology ETF (XLK)
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