August 21, 2012 at 18:14 PM EDT
Daily ETF Roundup: Bulls Back Away From Resistance
Investors took matters into their own hands today, attempting to manufacture some notion of activity in the markets. Bullish momentum briefly took the S&P 500 to its highest level in four years during early trading hours. But the continuing summer slump and rather anemic trading volumes seen in the last few weeks brought out profit-hungry investors, who quickly sold off the market to lock in gains. Many investors have expressed their belief that markets are overbought right now, and that any menial gains have been largely fueled by speculations about central bankers across the globe, swooping in with an elusive safety net to pick up the global economic slack. Day traders will likely continue to look for any major developments from the Euro Zone or the U.S. before jumping back full force into the markets [see also 5 Important ETF Lessons In Pictures]. Global Market Overview: Bulls Back Away From Resistance After a brief stealth rally [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: GDXJ Strikes Gold, Coffee Sizzles Daily ETF Roundup: CORN Soaring, Markets Still Boring Gold ETFs In 2012: The Good, The Bad, And The Ugly 4 ETFs On Fire From The Heat Wave Which Gold Miner ETF Has The Highest Correlation To Gold?
Investors took matters into their own hands today, attempting to manufacture some notion of activity in the markets. Bullish momentum briefly took the S&P 500 to its highest level in four years during early trading hours. But the continuing summer slump and rather anemic trading volumes seen in the last few weeks brought out profit-hungry investors, who quickly sold off the market to lock in gains. Many investors have expressed their belief that markets are overbought right now, and that any menial gains have been largely fueled by speculations about central bankers across the globe, swooping in with an elusive safety net to pick up the global economic slack. Day traders will likely continue to look for any major developments from the Euro Zone or the U.S. before jumping back full force into the markets [see also 5 Important ETF Lessons In Pictures]. Global Market Overview: Bulls Back Away From Resistance  After a brief stealth rally [...]

Click here to read the original article on ETFdb.com.

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