Trading on Wall Street has finally resumed after a prolonged weekend due to hurricane Sandy, prompting the closure of the New York Stock Exchange on Monday and Tuesday. Surprisingly, major equity benchmarks avoided volatile price swings at the open this morning despite the shortened trading week ahead of Friday’s key jobs report. From a technical perspective, immediate support for the S&P 500 Index remains at 1,400, along with near-term resistance at the 1,420 level [see Free 7 Simple & Cheap All-ETF Portfolios].
Below, we highlight how the ETFdb Analyst Picks have been performing, noting any important fundamental catalysts while also keeping an eye on key technical levels for our recommendations:
|Utilities Select Sector SPDR|
Since recommendation, this position has oscillated back-and-forth, resulting in only a minimal gain as of today. From a fundamental perspective, the prevailing landscape remains largely unchanged and still plagued with uncertainties, which bodes well for this defensive-minded recommendation. XLU is keeping its head above the 200-day moving average which should continue to welcome buyers who are looking to scale back on risk-exposure without pulling out of the equity market entirely.
ETFdb Analyst Pick #2: Long BDCL
Pro Membership Required to Continue Reading
- Access to 50+ All-ETF model portfolios. Whether you're a long-term, buy-and-hold investor or a more active trader looking to establish a tactical position, our collection of ETFdb Portfolios has something for everyone.
- ETFdb Realtime Ratings show you exactly where each fund stacks up next to the competition. Get objective, in-depth, custom research on every ETF.
- Pro members have Unlimited Excel Download capabilities across the entire database; users can easily download more than 200 data filled paged and also export results to Microsoft Excel from every tool.
- Get Actionable ETF Investment Ideas every week with access to ETF Insider, the 2x weekly newsletter that combines technical and fundamental ETF analysis to identify compelling opportunities.
- ETFdb Analyst Picks offer investment recommendations suited for longer-term traders; each Analyst Pick includes a fundamental rationale as well a suggested stop-loss and price target.
Disclosure: No positions at time of writing.
ETF Database is not an investment advisor, and any content published by ETF Database does not constitute individual investment advice. The opinions offered herein are not personalized recommendations to buy, sell or hold securities. From time to time, issuers of exchange-traded products mentioned herein may place paid advertisements with ETF Database. All content on ETF Database is produced independently of any advertising relationships. Read the full disclaimer here.