Santa came late this year but the fact that he showed up at all was good enough for investors on Wall Street. Policymakers in Washington D.C. managed to steer us away from the fiscal cliff, at least for now that is, as they struck a deal in virtually the last moment possible. The bull parade began on December 31st and carried over into the new year, and surprisingly the Fed hinting at ending its bond-repurchase program during Thursday’s meeting wasn’t enough to erode investors’ confidence, perhaps suggesting that optimism is here to stay [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. As always, investors of all experience levels are advised to use stop-loss orders and practice disciplined profit-taking techniques:
|Utilities Select Sector SPDR|
With “fiscal cliff” woes off the table for now, XLU has managed to recover a good chunk of the losses accumulated post-election. This ETF is still trading below its 200-day moving average which is frustrating, however, it does offer some encouragement as it appears to be moving along a rising support level. The next hurdle for XLU comes in at $36 a share and a break above this level should entice buyers who are still waiting on the sidelines.
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Disclosure: No positions at time of writing.
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