MARKET COMMENT
Dave Fry at ETF Digest, March 31, 2009
Sometimes it’s just too obvious so let’s just let the image tell today’s quarter and month-end story.
I’m not real sure we can make too much of this type of activity until we get past Friday’s employment data since today’s action may just be bogus frankly.
Volume was again below average while breadth was quite positive.
March wraps-up with some green as cynically one might believe some tape painting was present. But it is what it is.
I don’t have much to add today since I’m pretty focused on the rest of the week’s news and actions. Remember, we have much to come this week with earnings, more economic data and the all important employment report.
Let’s see what happens.
Disclaimer: Among other issues the ETF Digest maintains positions in: SPY, MDY, IWM, QQQQ, XLF, XLI, XLY, GLD, DGP, DBP, DBB, DBC, USL, EFA, EEM, EWY, EIS and FXI.
The charts and comments are only the author’s view of market activity and aren’t recommendations to buy or sell any security. Market sectors and related ETFs are selected based on his opinion as to their importance in providing the viewer a comprehensive summary of market conditions for the featured period. Chart annotations aren’t predictive of any future market action rather they only demonstrate the author’s opinion as to a range of possibilities going forward.
