by Dan Gibby | Aug 25, 2024 | ETF Past Letters
Despite a bearish retracement last Thursday, the markets bounced on positive comments from Fed Chairman Powell’s speech during the annual economic conference in Jackson Hole, Wyoming. For the week, the DIA, SPY, and QQQ were up about 1 – 1.5%, not bad after the...
by Dan Gibby | Aug 20, 2024 | ETF Past Letters
After the recent mini-crash – and expected retracement with spiked volatility — we are shocked to report that the broader markets had their best week since November in an amazing bullish retracement higher, plowing towards Major Resistance!! At the end of...
by Dan Gibby | Aug 11, 2024 | ETF Past Letters
Last week was a whiplash ride for traders who woke up Monday with a nasty gap following Japan’s 12.4% collapse. Fear rose on disappointing U.S. economic data and a rising Japanese yen, creating losses with the yen carry trade. On Monday, the SPY was down 3%,...
by Dan Gibby | Aug 4, 2024 | ETF Past Letters
Last week we cautioned, “August and September are historically the worst-performing months of the year for the S&P 500.” Markets were relatively flat through Wednesday, but aggressive selling picked up on manufacturing data on Thursday which showed a...
by Dan Gibby | Jul 28, 2024 | ETF Past Letters
The rotation from Big Tech to small-caps and value stocks continues as profit-taking was seen in the Magnificent Seven and tech stocks which have been on a tear this year. The IWM and Dow closed the week with gains. The Nasdaq and S&P closed...
by Dan Gibby | Jul 21, 2024 | ETF Past Letters
The week before last, the four major Index ETFs rocked on softer CPI data and the hopes of a soft landing and interest rate cuts. The rotation into small-caps and value stocks (IWM) was impressive as the profit-taking was seen in the Magnificent Seven and tech...
