The markets are now beginning to take their cues from economic data. A strong Housing Starts report for the month of July-2014 laid the foundation for today’s trading and the SP-500 continued to narrow the gap between its current price and all-time high. There is no new geopolitical news of significance to report or sway the markets. Positive earnings reports from Home Depot (HD), TJX Companies (TJX) and Medtronic (MDT) also gave a boost to the market.
Although the SP-500 (SPY) gave us another positive performance, its Time Weighted Volume (TWV) continues to shrivel as buying demand contracts. The same could be said of the Nasdaq-100 (QQQ) and Russell-2k (IWM). In terms of strength, the most impressive group was the Home Construction Index (ITB).
(See performance results below.)
|ETF Market Indices||Last||Net Chg||% Chg||Vol x 1000|
|20-Yr+ Treasury Bond (TLT)||116.18||-0.36||-0.31%||5,937|
|US Dollar Index Bullish (UUP)||21.82||0.08||0.37%||374|
|Euro Trust (FXE)||131.38||-0.41||-0.31%||312|
|Japanese Yen (FXY)||94.68||-0.35||-0.37%||19|
|DB Commodities Index (DBC)||24.78||0.05||0.20%||871|
|US Oil (USO)||34.71||-0.35||-1.00%||4,028|
|DJ US Real Estate (IYR)||74.02||0.06||0.08%||7,927|
|DJ US Home Construction (ITB)||23.99||0.56||2.39%||5,528|
|Consumer Discretionary (XLY)||68.25||0.51||0.75%||3,988|
|Consumer Staples (XLP)||44.9||0.12||0.27%||2,739|
|Basic Materials (XLB)||50.37||0.15||0.30%||3,211|
*For a more complete market summary and access to our proprietary indicators and opinions, consider a trial subscription to The SPY Report.