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SPY, Major ETFs Bounce on Potential Debt Deal

By  +Follow October 16, 2013 8:45AM
Tickers Mentioned:

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.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.

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Results for SPY
19 Sep 14 04:09:31
Tell us what you think about this weeks $SPY alert. How are you trading it? http://t.co/RtWeNQwGns
19 Sep 14 04:06:23
RT @upstocks13: Watch-LIST : $ATOS $SPY $UVXY $HPJ $DRL $SINO http://t.co/ILJxdZtJfd
19 Sep 14 04:05:31
nlightn: have been holding the Sep14 $SPY $202call for - nlightn http://t.co/6h6cq8RMgi
Perfor Mance
19 Sep 14 04:04:47
Option Millionaires: nlightn: have been holding the Sep14 $SPY $202 thinking http://t.co/YlgT2S12Qf
Quantitative Trading
19 Sep 14 04:03:50
@QuantTradeEdge $QQQ gapping up to 52 week highs. $SPY gapping up to all time highs. $AAPL? Still nearly a buck below the news spike.
19 Sep 14 04:03:21
Now with the US interest rate hike and Scottish Independence resolved, I believe $SPY $SPX should keep the uptrend for the coming few weeks
Financial Iceberg
19 Sep 14 04:02:37
The Healthcare Sector : New High Ever ? $SPY, $SPX, $ES_F, $XLV http://t.co/PJoyDoXNIo
19 Sep 14 04:01:34
$USO $SPY $SPX French President Hollande Says First French Airstrike Destroys Islamic State Depot in Iraq
19 Sep 14 04:00:28
Scrap $AAPL!!! Earn 100% a year using our 'Top 10 Hedge Fund' Artificial Intelligence - $SPY http://t.co/0KXjkWO9If
Thinking Alpha
19 Sep 14 04:00:16
#Futures $DIA $QQQ $SPY #TGIF $BABA #IPO #Alibaba
Peter Rumble
19 Sep 14 03:56:03
US GDP recently restated to -2.9% for the first quarter of 2014, signals recession, stocks marched higher #Worry? $SPY $VIX $QQQ $AAPL
19 Sep 14 03:55:31
$SPY $COMPQ $VIX #Futures http://t.co/pG42XIR4Yg Real Time via @zozotrader
Robin Murray MD CFII
19 Sep 14 03:52:01
Technically underpinning the markets #Russell Micro/Small caps $IWM $IWC #Bull #action $DIA $XLF $SPY $QQQ #ETF http://t.co/BV4MaXELwg
Top ETF Funds
19 Sep 14 03:51:56
What Calpers Should Have Known Before Dumping Its Big Hedge Funds.. http://t.co/EIHY0gQfzd $SPY #ETF #ETFs #Stocks
Top ETF Funds
19 Sep 14 03:51:39
Morning MoneyBeat: Alibaba, Scotland and Quadruple Witching, Oh My!.. http://t.co/K8JRzvyApc $SPY #ETF #ETFs #Stocks
Options TradingIQ
19 Sep 14 03:50:36
Volatility Made Easy. http://t.co/MlqiYvVI1K $SPY $VIX
Carolyn B Miciano
19 Sep 14 03:47:17
Why its important to simulate Options trades http://t.co/uSvTKOxyWM $SPY $QQQ $IWM
♥ @MyOrgone ♥
19 Sep 14 03:40:59
Scrap $AAPL!!! Earn 100% a year using our 'Top 10 Hedge Fund' Artificial Intelligence - http://t.co/kR0C8PwuDa $SPY @CNBC
19 Sep 14 03:38:55
@RedDogT3 @JustinPulitzer @CNBC all in, scaling in $spy n $qid is at all time lowers.. How about $appl short, #kassn75kfollowers
Bruss Bowman
19 Sep 14 03:37:43
RT @TraderHMS: 268: Combining tactics and technique in your trading $BABA $SPY $QQQ $TWTR $FB #tradingtips http://t.co/2olfmnUmXC
Ryan McCloe
19 Sep 14 03:37:39
$ES_F $SPY $SPX Pre-Market Game Plan for 09/19/14 http://t.co/1m0pmpxsl7
Alysia Sarkisian
19 Sep 14 03:37:18
RT @SeekingAlpha: To Calpers: Go Small And Go Young Or Get Out http://t.co/TTu2ntx2mI $SPY
Equity Clock
19 Sep 14 03:33:30
S&P 500 has declined in 67% of sessions following large IPOs: http://t.co/jvRvSunDY4 $SPX $SPY $BABA http://t.co/ykpKa6Guvr
Seeking Alpha
19 Sep 14 03:33:01
To Calpers: Go Small And Go Young Or Get Out http://t.co/TTu2ntx2mI $SPY
Brian Bickhaus
19 Sep 14 03:32:09
@SJosephBurns Long $SPY - that has been a great call. You nailed it.
Steve Burns
19 Sep 14 03:28:59
I am still long $SPY.
Ted Darling
19 Sep 14 03:24:56
Marc Faber on @CNBC #permabear wait until he turns positive then sell $SPY
19 Sep 14 03:24:45
New High Market Update and Stock Scan $SPY http://t.co/SRI4wkoE7C
19 Sep 14 03:23:12
So much for Scotland. Spivs are foiled again!! $iwm $spy
19 Sep 14 03:17:33
@KeithMcCullough $SPY 202.3ish is a buy signal on $VIX, assuming markets stall there.
19 Sep 14 03:11:00
$SPY Eight-point shift to bearish outlook for today, with a flat outlook for Monday/Tuesday http://t.co/AR6HnFY1c7
19 Sep 14 03:10:03
$SPY Yesterday's breakout took some of the sting out of today's projection. Time to consolidate? http://t.co/PrmoYEApso
19 Sep 14 03:05:03
GST Morning Market Intelligence Report $spy $qqq $iwm http://t.co/6nxfYY7oPx
19 Sep 14 03:03:51
October 16th Day Trading Recap: +10 Points - Wild Moves and Managing Risk http://t.co/LtJjsvJmFT $ES_F $SPY $SPX
19 Sep 14 03:00:41
RT @upstocks13: Watch-LIST : $ATOS $SPY $UVXY $HPJ $DRL $SINO http://t.co/ILJxdZtJfd
aziz saba
19 Sep 14 02:59:26
Watch-LIST : $ATOS $SPY $UVXY $HPJ $DRL $SINO http://t.co/ILJxdZtJfd
Don Draper
19 Sep 14 02:57:11
$SPY goes ex-dividend today.
Peter Rumble
19 Sep 14 02:56:32
Insider Buy $OREX CEO bought 50k shares at $4.78, short term has further upside $IBB $SPY $VVUS
19 Sep 14 02:52:46
$SPY, $SPX, $ES_F market will react negatively on IPO Alibaba. Business go directly to China.
19 Sep 14 02:52:45
Will we see a repeat of the seasonal pattern this year? -> 9/19 setups http://t.co/XPsBK4rbi1 $SPY $SPX $$
19 Sep 14 02:48:15
::: $SPY FREE TRIAL ::: S&P 500 Asset Allocation Risk ON/OFF ::: Follow us & we will follow you back ::: Send us a DM here 4 more details
19 Sep 14 02:48:01
$SPY $SPX Today is SPY ex-dividend date. Look for SPX to drop around .79 . not sure about where the day ends just something to look for
19 Sep 14 02:42:49
RT @OMillionaires: Have no Fear, Ex-Divy is here! For those looking at $SPY & QQQ thinking futures are down - heck, may be above it today a…
♥ @MyOrgone ♥
19 Sep 14 02:40:59
Stop trading $AAPL!! Make 100% per year with our 'Top 10 Hedge Fund' Artificial Intelligence - http://t.co/8phRy3QJfL $SPY $QQQ
19 Sep 14 02:30:45
@RedDogT3 Japan and Asia broadly a better value here forward than $SPY IMHO. $DXJ
19 Sep 14 02:24:40
Scotland .. 55% against seperation $SPy $INDU $IWM
Al Finlaw
19 Sep 14 02:23:24
RT @RedDogT3: $spy upper range on day 4 see if today's move holds and stays above $201.50. Big move from $199.50 adjustments
Scott Redler
19 Sep 14 02:19:55
$spy upper range on day 4 see if today's move holds and stays above $201.50. Big move from $199.50 adjustments
19 Sep 14 02:12:10
RT @kazonomics: Asia ripping $spy $es_f $aapl @btcdotcom @SilIyPenguin Europe better not fuck this up! Tomorrow could be crazy 🙈 #ta http:…
Auto Binary option
19 Sep 14 02:09:06
RT @ichimokucharts: Members Stock Market Review Ichimoku and Candle vid Sep18 http://t.co/vQQS3nMKRU $SPX $SPY $NDQ $QQQ $DJIA $DIA $RUT #s…
By  +Follow October 16, 2013 8:45AM



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