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SPY, Major ETFs Bounce on Potential Debt Deal

By  +Follow October 16, 2013 8:45AM
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Market optimism about what appears to be an approaching end to the government shutdown and debt ceiling crisis helped push up the major indicies, pulling up most of the biggest ETFs with them. With the DJIA and S&P both gaining more than 1.15 percent by early afternoon and the Nasdaq up almost as much, the highest-volume, broad market ETFs were on the rise. The SPDR S&P 500 ETF ($SPY) gained almost 1.25 percent, the Financial Select Sector SPDR ($XLF) climbed almost 2 percent, PowerShares QQQ ($QQQ) jumped almost 1 percent, and the iShares Russell 2000 Index ($IWM) was up almost 1.25 percent.

Congressional Deal on Debt Ceiling, Funding Appears Likely

The failure of the House of Representatives to pass a bill last night, paired with a new agreement in the Senate, appears to have bolstered market confidence overnight that a debt default will be avoided. Senate leaders announced Wednesday morning that they had reached a deal for a bill that would extend the nation’s borrowing limit to early February and end the two-week shutdown, approving a budget that will keep the government open until January 15. And today’s bounce would seem to indicate a consensus in the markets forming around the belief that Speaker of the House John Boehner will bring the Senate bill up for a vote, that it will pass, and that President Obama will sign it into law.

VIX Plunges, Emerging Markets Don’t

Today’s big losers are traders betting on the VIX, as an agreement in congress radically decreases anticipated market volatility. The iPath S&P 500 VIX Short Term Futures ETN (VXX) plunged almost 9.5 percent on Wednesday, while the inverse ETF, the VelocityShares Daily Inverse VIX (XIV) climbed over 9.75 percent. Equities investors also seemed to be shifting back towards a risk-on environment as major ETFs tracking emerging market ETFs were on the rise. The iShares MSCI Emerging Markets Index (EEM) and Vanguard FTSE Emerging Markets ETF (VWO) gained over 0.75 percent, the and the iShares MSCI Brazil Index ($EWZ) was up over 1.25 percent.

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Results for SPY
James DiPlata
28 Jul 15 03:22:27
RT @Yourpersonaltr1: The easy never lasts in #trading, 5 day losing streak, disappointing earnings.. $SPY #stocks $AAPL $MSFT $IBM $UTX htt…
James DiPlata
28 Jul 15 03:22:27
RT @gurutr8s: July 28th Trading Plans http://t.co/dci0M31TAt /// $SPY $AAPL $TWTR
_JamisonG_
28 Jul 15 03:21:50
$ES_F money flow suggest rerun to $2060 boring really $SPY
Bret Jensen
28 Jul 15 03:20:17
Commented on: "Has The Long Awaited Correction Begun?" http://t.co/f67QDoJCs8 $SPY $AAPL $GILD
FonsieTrader
28 Jul 15 03:09:53
$SPY $ES_F #premarket Premarkets: 5 things to know before the open http://t.co/wUGZD1fEVP
SKS1586
28 Jul 15 03:09:19
@JeffClarktrader 3 Bullish $SPY Signals = 1. $NAMO -60.38, 2. $CPC 1.22, 3. $VIX (15.6) Aug 16p (1.75) >16c (1.59). Am I correct?
Spytanic
28 Jul 15 03:07:57
Unless of course @GoldmanSachs decides too Short the markets and get another tax payers bailout then $Spy will crash, such a fuckin scam
Spytanic
28 Jul 15 03:05:50
$Spy, will never go under 205 again...it's the law ! Financial engineering in Americas supposed Free markets economy ran by @federalreserve
Michael Lamothe
28 Jul 15 03:05:46
RT @StockTwits: Here's one of the best investing quotes we've ever seen. On the madness of markets -> http://t.co/XKZFTjetFV $VIX $SPY
Spytanic
28 Jul 15 02:58:16
its 3am and my meth head neighbor is out doing yard work in his underwear and this pos $Spy is headed back too alltime highs but of course
Miroslav Piták
28 Jul 15 02:57:05
RT @StockTwits: You also have to see this trend line. It starts at the 09 crash. Chart by @jessefelder -> http://t.co/DhM3hJHukK $SPY http:…
busterstacks
28 Jul 15 02:53:31
$SPY out of the box http://t.co/Za5mX94vz2
David
28 Jul 15 02:52:37
RT @alphatrends: ICYMI my video analysis of market from Friday http://t.co/Yux1mvSSDA $SPY $GLD $TLT $QQQ $IWM $SMH
Cutlass
28 Jul 15 02:51:16
RT @gurutr8s: July 28th Trading Plans http://t.co/dci0M31TAt /// $SPY $AAPL $TWTR
kenr0966
28 Jul 15 02:47:45
RT @RedDogT3: $spy's look above yesterday's High of $207.55 (see if that holds). Resistance $208.70 then $209.45
Kenneth Bates
28 Jul 15 02:46:21
$SPY trading up .78% at 545am EST :) #StockMarket #spy #s&p
vic
28 Jul 15 02:45:00
@DougKass Good call, Sir. You didn't benefit all the dip, but as premarket $SPY now 208 - your call was awesome.
Hugo Phillipps
28 Jul 15 02:42:51
$RUT $SPY Will we bounce or fall ? Im trying to stick to the strongest sectors like the $IBB. The money is made following the leaders - JL
Fake Chum Lee
28 Jul 15 02:41:01
RT @tradewithjoe: New 100K Challenge Starting Soon - http://t.co/upDpfLHncf $AAPL $SPY $DIA $IWM $QQQ $USO $TSLA $GOOGL $NFLX $FB $GLD $GDX…
YourPersonalTrader
28 Jul 15 02:38:26
The easy never lasts in #trading, 5 day losing streak, disappointing earnings.. $SPY #stocks $AAPL $MSFT $IBM $UTX https://t.co/JHD4nurKzm
Don Vandenbord
28 Jul 15 02:38:07
RT @paststat: when $SPY lost more than 50 bps a day for 3 days in row , 63/68 wins , since Y2K -> http://t.co/ydZCVXYrU6 $STUDY
nicholas
28 Jul 15 02:38:01
nicohof1: Basic7Cary: RT LTbioinvestor: $SPY $DJI $IWM .... every excuse is good this year to be a laggard ... #china #usd #Grexit #fedhik…
Momentum Stocks
28 Jul 15 02:37:29
July 28th Trading Plans http://t.co/dci0M31TAt /// $SPY $AAPL $TWTR
Jackie
28 Jul 15 02:33:53
RT @etfguide: Risk appetite is O'Changin'. Mid & small caps leading the selloff from 6/23 peak. $IWM $MDY $SPY http://t.co/Xa4j812l3d
ENRIQUE SANTIAS
28 Jul 15 02:29:57
RT @RedDogT3: $spy's look above yesterday's High of $207.55 (see if that holds). Resistance $208.70 then $209.45
$teph
28 Jul 15 02:25:11
RT @LMTentarelli: Default trade on $SPY is to buy pullbacks to 200sma, although downside momentum not yet sold out. http://t.co/UI7fHUWpZI
nicholas
28 Jul 15 02:23:12
Basic7Cary: RT LTbioinvestor: $SPY $DJI $IWM .... every excuse is good this year to be a laggard ... #china #usd #Grexit #fedhike .....htt…
Paula Treneer
28 Jul 15 02:19:21
RT @MarkArbeter: Another failed breakout for $SPY, $SPX. I guess I shouldn't be as surprised as I am. Rally, reverse, rinse, repeat http://…
Cary
28 Jul 15 02:19:04
RT @LTbioinvestor: $SPY $DJI $IWM .... every excuse is good this year to be a laggard ... #china #usd #Grexit #fedhike .....
_JamisonG_
28 Jul 15 02:17:53
$ES_F is green overnight #FOMC meets today followed by WED #FOMC announcement $SPY $QQQ $IWM $VIX #btfd #sarcasm http://t.co/6UEqRSUv1s
Anuj
28 Jul 15 02:15:26
RT @lunatictrader1: World stock markets outlook for Week of July 27, 2015. Free Newsletter: http://t.co/jjtCuyHhBF $SPY $DAX $GLD $TLT $USO…
Monroe Cassidy
28 Jul 15 02:11:52
RT @lancejepsen: Bonds Outperforming the S&P 500 In 2015 $SPY $QQQ $IWM https://t.co/Cp4n0niOP5 http://t.co/CRZzccugW6
Hanley Johnson
28 Jul 15 02:11:46
RT @lancejepsen: Institutional Trader Selling Was Detected On the TICK $SPY $QQQ $IWM https://t.co/VNIFInVAnu http://t.co/XsHyO2Qqi9
Atwater Holman
28 Jul 15 02:11:40
RT @lancejepsen: Durable Goods Orders Flat But New Orders Plunge YOY $SPY $QQQ $IWM https://t.co/UNr9mSE7ca http://t.co/PhLpZrK18x
Stacy Woodall
28 Jul 15 02:11:31
RT @lancejepsen: Democrats Target Jobs With Minimum Wage Hikes $SPY $QQQ $IWM https://t.co/Zu9rCdsr1n http://t.co/tuTzkyKIO8
Wanda Walton
28 Jul 15 02:11:27
RT @lancejepsen: Stock Market Prediction For Week of July 27 2015 $SPY $QQQ $IWM https://t.co/jAD6HqstTo http://t.co/sYMj9zCCAJ
Wanda Robinson
28 Jul 15 02:11:24
RT @lancejepsen: New Home Sales Plunge, Surprise To The Downside $SPY $QQQ $IWM https://t.co/nSNugEe5O0 http://t.co/lu1w3vm4ev
Kimberly Clay
28 Jul 15 02:11:21
RT @lancejepsen: Democrats Target Home Builders With Rent Control $SPY $QQQ $IWM https://t.co/zQbrhZfExV http://t.co/31BJIEuLl2
Sue Mullen
28 Jul 15 02:11:15
RT @lancejepsen: Free Markets Need To Reward Those That Succeed NOT Punish $SPY $QQQ $IWM https://t.co/aVhGEdPVya http://t.co/97hfdBv3PP
Sheila Barrow
28 Jul 15 02:11:11
RT @lancejepsen: S&P 500 Overnight Futures Moving Higher on Alcoa Earnings $SPY $QQQ $IWM https://t.co/pChO9giXEp http://t.co/vcmGay7pyZ
Ankush
28 Jul 15 02:10:53
RT @Hubon: $SPY the selling can not get stronger every day, the buy signal from the decision point getting erased soon http://t.co/t8RfonT…
Malcom Landers
28 Jul 15 02:10:47
RT @lancejepsen: Jobless Claims Break Support Hit 15 Year Low! $SPY $QQQ $IWM http://t.co/JVdQwWTCXu
Scott Redler
28 Jul 15 02:10:30
$spy's look above yesterday's High of $207.55 (see if that holds). Resistance $208.70 then $209.45
Perry Ventura
28 Jul 15 02:10:08
RT @lancejepsen: $SPY $SPX $XRT US annual e-retail sales surpass $300 billion for the first time - http://t.co/8F1DuB7M0a http://t.co/AnzfP…
binaryoptionsocial
28 Jul 15 02:05:11
Long rallies are rare. $SPX $SPY http://t.co/1y7p5m6UgU http://t.co/XG5hVFJGig http://t.co/XG5hVFJGig
Dexter Bland
28 Jul 15 02:03:23
@Hubon @inflatemeNOT during the days they were expected to ease it was. But yes seems another set play, spoos got ramped very early. $SPY
Finakademie.cz
28 Jul 15 02:01:20
RT @StockTwits: You also have to see this trend line. It starts at the 09 crash. Chart by @jessefelder -> http://t.co/DhM3hJHukK $SPY http:…
ActiveVols
28 Jul 15 01:56:09
Mornin' from Dublin!! And here comes the #Bounce !! $SPY $QQQ Lets see!?
Chrisjan Immelman
28 Jul 15 01:53:20
RT @SJosephBurns: This market has: No momentum No follow through No trend Danger Lots of chop Lots of risk Little reward No rhyme o…
Jason Olive
28 Jul 15 01:53:10
RT @SeekingAlpha: Equity Risk Premium In A Rising Interest Rate Environment http://t.co/ngnYSqe84f $SPY $DIA $QQQ $RINF
				
				
By  +Follow October 16, 2013 8:45AM
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