ETF Action Research

12.1.2020

Breakdown of the previous day's market action through the lens of ETFs

• Tech leads sectors as S&P 500 (SPY) falls 0.44% to open the week
• Despite 28% rise over last month, Energy sector (XLE) still 40% off of 52-week high
• Dollar (UUP) gains 0.24% but downward trend beginning to emerge after rmonths of moving sideways
• Many emerging market ETFs still sitting in overbought territory (14-day RSI)

11.29.2020

Breakdown of the previous day's market action through the lens of ETFs

• Small-caps lead (IWM +3.87%) as major averages move higher during the week
• S&P 500 (SPY) gains 2.35% last week as it hits new high
• Emerging markets and developed ex-U.S. hit new 52-week highs and sit in overbought territory (14-day RSI)
• Energy (XLE) gains over 8% during the week while Real Estate (XLRE) only U.S. sector to decline (-0.32%)

11.27.2020

Breakdown of the previous day's market action through the lens of ETFs

• S&P 500 retreats 0.15% prior to the Thanksgiving holiday
• Utilities (XLU +0.26%) and Real Estate (XLRE +0.24%) lead U.S. sectors
• Financials & Energy bot in overbought territory (14-day RSI)
• U.S. Dollar (UUP) falls 0.16% and trending lower from its recent trading range

11.25.2020

Breakdown of the previous day's market action through the lens of ETFs

• Dow crosses 30,000; S&P 500 (SPY) rises 1.61% as it makes new high
• Small-cap value (IJS +3.22%) leads sizes and styles; outpacing large-cap growth by nearly 14% over last month
• Energy (XLE), Financials (XLF), and Industrials (XLI) all currently in overbought territory (14-day RSI)
• Best performing country over last three months?  Mexico (EWW +23.41%) while still trading at 14% discount to 5-year average P/S ratio

11.24.2020

Breakdown of the previous day's market action through the lens of ETFs

• Equities rise to open the week on positive vaccine news, S&P 500 (SPY) gains 0.60%
• Industrial sector (XLI) makes new 52-week high while Energy, Financials, Real Estate, and Utilities still over 10% away
• Energy sector (XLE) currently in overbought territory (14-day RSI)
• Dollar (UUP) gains 16 basis points but still remains in tight 4-month trading range

11.22.2020

Breakdown of the previous day's market action through the lens of ETFs

• S&P 500 (SPY) closes down, fals 0.77% over the week
• Energy gains 5.70% during the week, leads all sectors over last month (XLE +19.77%)
• Emerging Market ETFs well into overbought territory (14-day RSI)
• US Aggregate (AGG) gains 10 basis points while 10-year treasury yield now sitting at 0.82%

11.20.2020

Breakdown of the previous day's market action through the lens of ETFs

• Large growth regains some mojo, IVW +0.63% vs. IVE +0.15%
• MLPs gaining momentum, AMLP +25% in November
• Several dev ex-U.S. & EM countries overbought (pages 4 & 5)
• Agriculture having a solid week, led week-to-date by Cocoa (NIB +12.71%) & Coffee (JO +9.44%)

11.19.2020

Breakdown of the previous day's market action through the lens of ETFs

• Equities retreat on surging virus cases, S&P 500 (SPY) down 1.20%
• Only two SPDR S&P sector/industry ETFs advance, internet (XWEB) +0.63% & retail (XRT) +0.11%
• Dev ex-U.S. (VEA -0.54%) and Emerging (VWO -0.34%) hold up better than U.S. 
• Gold (GLD -0.57%) down again, outflows beginning to add up (over $2 billion MTD)

11.18.2020

Breakdown of the previous day's market action through the lens of ETFs

• SPY falls for only 4th time this month, down 0.51%
• Small & mids advance, up 0.56% and 0.25% respectively
• Energy leads again, XLE is now overbought (14-day RSI)
• LT Treasury yields fall, TLT up 0.65%

11.17.2020

Breakdown of the previous day's market action through the lens of ETFs

• S&P 500 (SPY) books another 1% move, up 1.24%
• Rotation to small caps and value continues
• Four sectors (XLP, XLY, XLB, XLI) close at 52-week highs
• Dollar remains weak, drops 0.24%