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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
28 Nov 14 15:47:52
X-mas Giving starts now-Social network donations $FB $TWTR http://t.co/b20VxbRRZG via @EllyElllly $AMZN $SPY $FB $TWTR
28 Nov 14 15:47:06
http://t.co/7EIZTdFadS $AAPL $NKE $GPRO $MCD $WMT $JNJ $HD $MMM $NKE $BAC $SPY Option & Stock Alerts / Ideas All Year Long SUBSCRIBE NOW
28 Nov 14 15:40:20
$SPY At the Right Time For Strangle ... Can't Stay Flat !
28 Nov 14 15:39:40
Oh Lord the Nightly News Pumping US Stocks Now $SPY $DIA $QQQ
28 Nov 14 15:39:01
$MVW similar setup to $PKG Updated chart, still consolidating. $SPY http://t.co/caNCBlLkrR
28 Nov 14 15:37:27
$IBB $XBI ... thinking fund manager lagging this year are playing biotech to improve the numbers $SPY $DIA $IWM $QQQ
28 Nov 14 15:37:08
$PKG Updated chart, still consolidating. $SPY
28 Nov 14 15:34:34
RT @StockExpert3: Oil Now at 66$ a barrel Oil and Gas BagHolders Crushed Gold BagHolders Going Down $spy $dia $qqq $slv $gld $oil
28 Nov 14 15:31:33
RT @StockExpert3: Wow Oil and Gas and Gold Bagholders getting KILLED in this Market $SPY $DIA $QQQ $XOM $GLD $SLV $JNUG $TVIX
28 Nov 14 15:29:42
RT @StockTwits: The basic materials sector took a beating today. Look at all this red -> http://t.co/xEw6yZAM8L $XLE $SPY http://t.co/bDHhs…
28 Nov 14 15:28:01
RT @racernic: other vid failed try this: http://t.co/qEQJ4WvBgf $SPX $SPY $IWM $RUT $AAPL $GOOG $BABA $QQQ this week vid recap for levels f…
28 Nov 14 15:18:46
RT @racernic: other vid failed try this: http://t.co/qEQJ4WvBgf $SPX $SPY $IWM $RUT $AAPL $GOOG $BABA $QQQ this week vid recap for levels f…
Joe Hentges
28 Nov 14 15:18:15
RT @StockTwits: The basic materials sector took a beating today. Look at all this red -> http://t.co/xEw6yZAM8L $XLE $SPY http://t.co/bDHhs…
28 Nov 14 15:17:25
The weekend: Period of time when you can avoid being prey to the #KillerWhale $SPY $IWM $QQQ $USO $USDX #Boring
28 Nov 14 15:11:39
$SPY chart: SPY. http://t.co/vBCkRiMNWI
TV_Trading Ideas
28 Nov 14 15:11:39
SPY $SPY http://t.co/STrcmpjjSf
Kartik Gururajan
28 Nov 14 15:10:48
Purchased a new computer with Windows 8.1, but ThinkorSwim is not loggin in. Anyone else have problems? $SPY $VIX $ES_F
28 Nov 14 15:06:44
RT @StockTwits: The basic materials sector took a beating today. Look at all this red -> http://t.co/xEw6yZAM8L $XLE $SPY http://t.co/bDHhs…
28 Nov 14 15:04:37
RT @StockTwits: The U.S. labor force participation rate is at a 36-year low. It's been falling for 14 years now -> http://t.co/2LjIaIeDeV $…
Financial eBooks
28 Nov 14 15:03:22
RT @StockTwits: The basic materials sector took a beating today. Look at all this red -> http://t.co/xEw6yZAM8L $XLE $SPY http://t.co/bDHhs…
Myles Mcinnerny
28 Nov 14 15:01:40
#growthslowing dovish #FOMC falling oil prices $CL_F all great for #stocks $SPY http://t.co/YM6hRuqtMQ
Options TradingIQ
28 Nov 14 15:00:27
Distribution Days Can Foreshadow A Correctionhttp://bit.ly/1ungH6V $SPY $FB $AMZN $AAPL My #blog archive
28 Nov 14 15:00:03
Mike DiBari
28 Nov 14 14:57:48
Best analysis I've heard yet. $SPY MT @HudsonsView: @tradinglicks perhaps $OIL becomes less financial asset and returns to commodity status.
28 Nov 14 14:54:16
What is the $SPY going to do next? Get real time alerts and analysis at http://t.co/oyBKdaBZdD
Carolyn B Miciano
28 Nov 14 14:53:26
How to beta weight your portfolio to $SPY http://t.co/OroJJ6gjbn $IBM $MSFT $HPQ
28 Nov 14 14:53:13
either oil will correct hard (which iznt likely at this point) or thu markets will crash ALA 2007-2008 soon $SPY $DIA $USO $OIH $XLE $QQQ
28 Nov 14 14:53:01
RT @RedDogT3: Some minor RDR's in some sectors as they pushed thru highs & couldn't hold like $spy's at 207.74. Now on lows. (Worth noting …
28 Nov 14 14:50:29
RT @seeitmarket: New Post - "Why Amazon Stock Is At A Critical Juncture In Time & Price" http://t.co/YXyd0dkuFc by @ATMcharts | $AMZN $SPY
28 Nov 14 14:48:52
other vid failed try this: http://t.co/qEQJ4WvBgf $SPX $SPY $IWM $RUT $AAPL $GOOG $BABA $QQQ this week vid recap for levels from mon preopen
Mamata Kaufman
28 Nov 14 14:48:11
Ok but not great compared to summer #'s. ICSC/Goldman chain store retail sales up 2.8% Y/Y last week $IWM $SPY
Carberry Huxter
28 Nov 14 14:47:25
Purchased $SPY Nov PUTs. Who in their right mind would chase this market bounce with QE3 coming to an end?!
28 Nov 14 14:45:00
Mon (Dec 01, 2014) US markets $SPY $DJIA & $NASDAQ will close HIGHER. #marketpredictions
ETF Trends
28 Nov 14 14:40:15
Small-Cap #ETFs Pick Up Speed Ahead Of Seasonally Strong Period http://t.co/LjjUpF4GVx #ETF #smallcap $IWM $SPY
Raffi Sosikian
28 Nov 14 14:37:57
$SPY on 11/13 I tweeted bulls will run out of ammo by 208. So far that has held up. However, things have changed. I now see 240 by Dec OPEX.
28 Nov 14 14:37:43
$CBRL $AAPL $MNST $TGT $WMT $SPY $DIA $QQQ $LOW $HD $V $DPZ $PZZA $COST $RCPT remain wildly overbought with nice toppin candlez 2day on most
Tom Lydon
28 Nov 14 14:35:11
Small-Cap #ETFs Pick Up Speed Ahead Of Seasonally Strong Period http://t.co/yAeyzIRdCF #ETF #smallcap $IWM $SPY
28 Nov 14 14:31:23
$SPY $DIA $QQQ nice end uv day selloffs to solidify tops on this fuckin BULLSHYT holiday week run no volume rampapalooza
Kevin Brock
28 Nov 14 14:30:09
RT @DowdEdward: @zerohedge $SPY waterfalls occurred in 08 and 11 after oil corrected 40% and 36% from highs. Currently -39%. #OPEC #justsay…
28 Nov 14 14:28:46
$GRUB Updated chart, great example of blue arrow alert. $SPY http://t.co/4aYnHOx7jV
28 Nov 14 14:27:07
$SPX $SPY $IWM $RUT $AAPL $GOOG $BABA $QQQ this week vid recap for levels from the mon preopen. http://t.co/jiACh8EY3G
Vardhana Maskall
28 Nov 14 14:26:17
BofA @MerrillLynch "US 1" long-term buy list of 25 stocks -0.59% vs. $SPY -0.14% 10/27/14 4pm close, ticker li
Abiona Hryncewicz
28 Nov 14 14:25:25
Good Morning Traders!! Lets rock n roll today. $SPY $VXX #HFT
Dea Farhani
28 Nov 14 14:22:36
RT @howardlindzon: Oil/crude on its way to $35? Impact stocks if it does? $SPY $USO $CL_F $XLE http://t.co/izmUAxvXF7""
Shakunta Miles
28 Nov 14 14:17:01
RT @HFTAlert: biggest grouping of sell programs i have seen in years. $SPY
Bogdan Campbell
28 Nov 14 14:16:20
klRsiMKTss Stock Market Video Analysis for Week Ending 7/26/13 $SPY $QQQ $AAPL $IWM $XLF $SMH
Hayato Finn
28 Nov 14 14:12:43
Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria $spx $spy $vix
28 Nov 14 14:10:58
@jTradeOptions goog luck to both of us. added $UVXY at the lows today. still short $BTU $CLF $RIG $SDRL hedge short $SPY $SPX.
28 Nov 14 14:08:21
RT @KourtlandK: $SPY $QQQ $SPX that's what's happening http://t.co/xQy6A9g9wM
Samantha Lee
28 Nov 14 14:06:25
$SPY 235 by Dec 17th.
By  +Follow October 16, 2013 8:45AM



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