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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.

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
Kady McMaster
24 Oct 14 06:32:53
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Winborn Traders
24 Oct 14 06:32:49
Watch #Emini $ES_F #DayTrading Training Videos http://t.co/QsvwY55ZhH & imagine if you attend our $SPX $SPY $AAPL $FB #ES_F Live TradingRoom
Kady McMaster
24 Oct 14 06:31:59
RT @philstockworld: Friday Freak-Out: #Ebola Spooks the Markets, Iron Ore Collapsing -- http://t.co/l9C4m3vxVZ $SPY $DIA $IWM $QQQ #Futur…
Dan Nathan
24 Oct 14 06:31:49
MorningWord 10/24/14: Santa Claus Rally? $SPY , $VIX http://t.co/aphKURjlJe @EnisTaner
naomihn2000
24 Oct 14 06:31:43
reshorting $RIG with $OIL down $SPX $SPY
Dan
24 Oct 14 06:31:29
$SPY Max Pain is 192.00 for maturity 10/24/2014. Last close = 194.93. http://t.co/Kwj0phetzK
Christina Caruso
24 Oct 14 06:31:16
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Sean McLaughlin
24 Oct 14 06:31:14
Man, the Ebola Crash Opening we were supposed to have (according to twitter last night) is pretty epic this morning. Pffff $ES_F $SPY
Beverly Katz
24 Oct 14 06:30:56
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Contrahour
24 Oct 14 06:30:53
Seems like 1) everyone missed the bounce & 2) everyone wants to fade the rally. Therefore, the "pain" trade is still to the upside. $SPY
   みえないばくだん
24 Oct 14 06:30:36
RT @TrinityNYC: 85年前の今日。"@StockTwits: On this day, 85 years ago, the biggest crash http://t.co/Q71lOOwqvg $SPY http://t.co/cjuMqrFXpY"
Christina Caruso
24 Oct 14 06:30:36
RT @philstockworld: Friday Freak-Out: #Ebola Spooks the Markets, Iron Ore Collapsing -- http://t.co/l9C4m3vxVZ $SPY $DIA $IWM $QQQ #Futur…
Andrew Kassen
24 Oct 14 06:30:08
$ES_F Risk flipped v. new longs through ytdy's highs. BB Compression indicates next directional leg just ahead. $SPY http://t.co/eSLSxt8Nj8
Emini Scalping
24 Oct 14 06:30:00
$ES_F EMINI SP500 Futures #TradingSignal #DayTrading Monthly Weekly & Daily Key Support Resistance Levels $SPY $SPX $AAPL #ES_F #ibroker $FB
Joy
24 Oct 14 06:29:54
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
DK1
24 Oct 14 06:29:36
$SPY Puts on the open 194.5s for a trade
Volatility Implied
24 Oct 14 06:29:33
“@davidnelsoncfa: $SPX has been tracking the 10 year yields all month. Let’s see if it continues. $SPY $TLT http://t.co/fOjo1y669z” RT RT RT
arunby
24 Oct 14 06:29:25
RT @StockTwits: On this day, 85 years ago, the biggest crash in stock market history happened http://t.co/ZJipj9IOEl $SPY http://t.co/Yl71j…
WaterMartyr
24 Oct 14 06:29:07
$SPY near-term target -- w/o #Ebola #news -- 197.3 to 198.0. Creating #negative #divergence in a wedge. #WaterMartyr http://t.co/RUybkA9g9g
Winborn Traders
24 Oct 14 06:28:59
Watch #Emini $ES_F #DayTrading Training Videos http://t.co/Asqr38kPEM & imagine if you attend our $SPX $SPY $AAPL $FB #ES_F Live TradingRoom
PK
24 Oct 14 06:28:59
$SPY Ppl care about ebola BUT Biz will go on - thats what they dont get it
Allison Jaffe
24 Oct 14 06:28:55
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Winborn Traders
24 Oct 14 06:28:55
Join our Free $ES_F $SPX $SPY Live Trading Room Open @ 9:00 AM EST https://t.co/YUv68PqULi
StockSurfer
24 Oct 14 06:28:41
RT @andrewunknown: $ES_F up as much as 8% over the last 6 trading days. Compare that to the average 7.27% V-Bottom move in 17.5 trading day…
Winborn Traders
24 Oct 14 06:28:28
Like Our Facebook Page to Receive $ES_F #ES_F #CMEGROUP #Ninjatrader Trading Signals in Real Time: http://t.co/VBJNI8xHEB $SPX $SPY $GLD
VisionTrust
24 Oct 14 06:28:15
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Allison Jaffe
24 Oct 14 06:28:14
RT @philstockworld: Friday Freak-Out: #Ebola Spooks the Markets, Iron Ore Collapsing -- http://t.co/l9C4m3vxVZ $SPY $DIA $IWM $QQQ #Futur…
Chris Goodrich
24 Oct 14 06:28:08
RT @StockTwits: On this day, 85 years ago, the biggest crash in stock market history happened http://t.co/ZJipj9IOEl $SPY http://t.co/Yl71j…
♥ @MyOrgone ♥
24 Oct 14 06:28:08
Dump $AAPL stock!! Turn $666 into $1 million with THIS Apple instead!! http://t.co/zb3UZNiUN6 $QQQ $SPY
Evenflo Feeding
24 Oct 14 06:28:07
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Mark Romero
24 Oct 14 06:28:06
The big glaring concern I see again today isn't Ebola. It's whether Oil can hold above $80 for try 3. $SPY $DIA $XLE $OIH
Becky Hiu
24 Oct 14 06:27:26
Haha premarket action is what it is. Lol. $ES_F $SPY
nobullshytrader
24 Oct 14 06:27:09
$SPY $DIA $QQQ possible ATHs today, just need 1 moar piece uv bad newz...
UAC AC & Heating
24 Oct 14 06:26:50
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Winborn Traders
24 Oct 14 06:26:50
Just Imagine if you could Find market's Intraday Highs and Lows for $ES_F #dayTrading $SPX $SPY $DJI $AAPL $QQQ $IWM
EMini Futures
24 Oct 14 06:26:40
Like Our Facebook Page to Receive $ES_F #ES_F #CMEGROUP #Ninjatrader Trading Signals in Real Time: http://t.co/xx7qyxhDEI $SPX $SPY $GLD
Tushar Ghate
24 Oct 14 06:26:31
Could be a boring day. Will be eyeing up $spy puts if any overhead resistance occurs here. Market continues to want to green.
Sunrise Trader
24 Oct 14 06:25:56
$SPY yesterday high 196.20 yesterday low 194.26
OptionsGenius
24 Oct 14 06:25:56
@Weeklyoptions $Spy opening higher rightly so..
Schaeffer's Research
24 Oct 14 06:25:55
In which @agwarner points out that we're all still haunted by the specter of that 2008 crash: http://t.co/0LsrbFJjp5 $SPY
Shierra'
24 Oct 14 06:25:48
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
TV_Trading Ideas
24 Oct 14 06:25:32
SPY - what if buy 3:55PM sell 11:35AM $SPY http://t.co/zbvz99cB8q
Edward Ortiz
24 Oct 14 06:25:27
$SPY At lows of yesterday of 194.93 for now this is a support the high was 196.20 this is the range for now, Lets see how it opens.
Winborn Traders
24 Oct 14 06:25:22
$ES_F $SPX $SPY $DJI $QQQ $YM_F $NQ_F $TF_F $FB did your Trade get Stopped Out because of The Market's noises? we can help you to avoid it!
Surfergirl
24 Oct 14 06:25:12
RT @szaman: Watch List 10/24/2014 http://t.co/o9IVslTM5s $AMAG $APT $LAKE $SPY$ERY $ISIS $KITE $GEVA $TRIP #stock #trading
MTG
24 Oct 14 06:24:50
On watching: $MSFT $KLAC $P and $SPY $VXX $IWM
Ian Kelly
24 Oct 14 06:24:42
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
Michael
24 Oct 14 06:24:08
RT @philstockworld: Friday's Fearful Outlook as #Ebola Hits NYC: $SPY $DIA $AMZN $TSLA $TM #Amazon -- http://t.co/UIMDFJvSW2 http://t.co/VN…
しきこ
24 Oct 14 06:24:08
今年はエボラでパニックか?“@StockTwits: On this day, 85 years ago, the biggest crash in stock market history happened http://t.co/77170Vaw0a $SPY
JoeCoolTrader
24 Oct 14 06:24:04
RT @traderstewie: "@steenbab: Savvy traders tell me, "Something is different about this market." Here are a few possibilities: http://t.co…
				
				
By  +Follow October 16, 2013 8:45AM
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