The Devil You Say!

March 19, 2017

 

Last week was the anniversary of 666.  Specifically, on March 9, 2009 the S&P was trading at a low of 666.  Unknown to all, it was one of the greatest opportunities presented to investors in a long time to enter the markets! Last week markets continued the move higher with several sector and industry group ETFs hitting new highs.  These include the Technology SPDR, HealthCare SPDR, Consumer Staples SPDR and Consumer Discretionary SPDR. Together, these four sectors account for over 50% of the S&P 500 and this means the bull market is doing just fine. Tech-related ETFs were strong with the Cloud Computing ETF, Semiconductor iShares, Internet ETF and Software iShares hitting new highs. Globally the FTSE All-World Stock Index ($FAW) is trading at a record high. The FAW includes stocks from 47 markets of developed and emerging countries. It recently cleared the 2015 high resuming a major uptrend. That's a positive sign because it shows that the stock market rally is global. The FAW is influenced by the U.S. markets which has soared to new record highs since November 4, 2016. We see, absent a black swan event, the markets continuing to move high but not at the rate we experienced from November 4th to March 1st.  Because of this trend we will continue to watch for dips to enter the SPY ETF.

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