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ETF News Update: A Fast Start to 2011 (DIA, EEM, FXI, GLD)

Tuesday, January 4, 2011 3:13

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The bulls wasted no time getting out of the gate today on the strength of holiday sales showing a 5.5% gain and the best numbers in six years. More good news came from the ISM report climbing to 57 from 56.6 in November while construction spending was +0.4% compared to 0.7% in the prior month.

On the downside, personal bankruptcies rose 9% to 1.5 million in 2010 which was the highest since 2005 according to the American Bankruptcy Institute which expects a slightly higher number of filers in the coming year.

Technically, the markets remain significantly overbought and overvalued on a short term basis. The VIX remains at deeply below average lows, signifying major complacency in the markets, while further out contracts are priced significantly higher based on the expectations of higher market volatility ahead.

Daily Moves for Major ETFS:

Dow Jones Industrials: (NYSEArca: DIA) +0.67%

Russell 2000: (NYSEArca: IWM) +1.74%

NASDAQ 100: (NasdaqGM: QQQQ +1.56%

S&P 500 Index: (NYSEArca: SPY) +1.03%

MSCI Emerging Markets:(NYSEArca: EEM) +0.96%

MSCI China (NYSEArca: FXI) +1.49%

Gold (NYSEArca: GLD) -0.52%

7-10 Year Treasuries: (NYSEArca: IEF) -0.31%

20+ Year Treasuries: (NYSEArca: TLT) -0.75%

VIX -0.79%

Wall Street Sector Selector remains in ”Yellow Flag” status, expecting choppy to lower prices ahead.

Wishing you a wonderful New Year,

John

John Nyaradi

Publisher

Wall Street Sector Selector

Check out SuperSectors.net for good New Year’s reading and a free membership to Wall Street Sector Selector

Disclosure: Wall Street Sector Selector invests in a wide range of exchange traded funds and positions can change at any time.

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