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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
Scott Smith
2 Sep 15 19:25:29
In these markets you NEED a good sense of direction. Are you following our moves? http://t.co/IRoEKYnLa0 $SPY $DIA $QQQ $IWM $XLF $VIX
Rebel Options
2 Sep 15 19:24:16
RT @zozotrader: $SPY 60 min chart update lined 197.50 up above http://t.co/zAMS0hGTVP
Tom Loffman
2 Sep 15 19:23:28
Indicator commentary $SPY: indicators now leaning bullish, but still all 6 of my top $SPY systems are flat (always late). Today was a ++
Stock Market Picks
2 Sep 15 19:22:51
Earnings Releases for September 3rd (after the close): $BLOX $COO $ESL $MRVL $PAY $UTIW $VNCE http://t.co/qhcoz81S6v $QQQ $SPY $DJIA
Stock Market Picks
2 Sep 15 19:22:05
Earnings Releases for September 3rd (before the open): $CIEN $CPB $GCO $GEF $HOFT $JOY $LE $MDT $MEI $XCRA http://t.co/qhcoz81S6v $QQQ $SPY
Tom Loffman
2 Sep 15 19:21:56
Sharp drop yesterday and pop today was bullish - so I put a bullish trendline on $SPY chart. Last week's lows holding http://t.co/OEzmEEho2b
Jon
2 Sep 15 19:15:40
Obvious move is a 2-day market dump. #soldtoyousuckers #ChinaMarketsClosed #whocares $SPY
Tom Loffman
2 Sep 15 19:15:31
Indicator summary $SPY: Positive: price mo, range & volume trends, VIX level. . Negative: MACD system. Neutral: VIX trend. Net: leaning bull
coralsea
2 Sep 15 19:14:35
RT @StockTwits: This will probably be the most important stock market stat you see today. Or how long corrections last: http://t.co/qB3Y4Eb…
Forex First Aids
2 Sep 15 19:14:15
RT @StockTwits: This will probably be the most important stock market stat you see today. Or how long corrections last: http://t.co/qB3Y4Eb…
Yan Li
2 Sep 15 19:13:09
RT @JLyonsFundMgmt: ICYMI>ChOTD-9/1/15 August 6-Month Lows Suggest Year-End Rally...After A New Low $SPY Post: http://t.co/A29mXaKx82 http:…
Jackie
2 Sep 15 19:11:45
I expect US S&P 500 futures (now 1947) to push about 20 points higher over the next few hours. $SPY http://t.co/AeGpYXdKXG
Big Data Tweet
2 Sep 15 19:10:37
RT @mindwithin: $SPY $ES_F #Algorithms help us to see into the future. Just amazing! #trading #stocks #analytics #bigdata #fintech http://t…
nobullshytrading
2 Sep 15 19:09:57
NEVER EVER SHORT...DA PONZZZZZZZZZZZZZZZZZZZZZZZZZZZZ $SPY
TalkMarkets
2 Sep 15 19:09:04
Odds And Depth Of Stock Market Correction $DIA $SPY $QQQ http://t.co/5EfcvjFBjJ
Gonza Rodriguez
2 Sep 15 19:08:35
RT @nanexllc: Flash Monday was amazing. Trades in S&P 500 futures smashed to a new record high $ES_F $SPY http://t.co/R0ePBIMIRr
Chris Kimble
2 Sep 15 19:07:55
RT @andrewnyquist: Great chart in this post by @AndrewThrasher - "Two Stock Market Indicators That Highlight Recent Selling" http://t.co/jh…
MindWithin
2 Sep 15 19:07:53
$SPY $ES_F #Algorithms help us to see into the future. Just amazing! #trading #stocks #analytics #bigdata #fintech http://t.co/JNjKRRHWlt
StockTwits
2 Sep 15 19:05:36
This will probably be the most important stock market stat you see today. Or how long corrections last: http://t.co/qB3Y4Eb5lI $SPY $DIA
OptionsKeepIt$imple
2 Sep 15 19:05:23
RT @Options_Edu: Today's Most Active #Options http://t.co/2X3YDXaW9z $SPY $SPX $AAPL $VIX $QQQ
Stock Market Haiku
2 Sep 15 19:03:44
It's another day, And look! A new direction! Tomorrow? Who knows? #markets $SPY
Scott Smith
2 Sep 15 19:02:34
$SPY Some believe the only way you can profit during a correction is by shorting. Really? Recent positions: http://t.co/KYWtFVgzsC $STUDY
Chris Ciovacco
2 Sep 15 19:02:27
@jwarmack $TLT beating $SPY by over 1% this week. Fed a factor = not a surprise TLT uncertain.
Tradometry
2 Sep 15 19:02:03
Whether $SPY fills gap to 197 or not, would like to see a pull back to 191. Watching $AMZN, $CMG, $MSTR for entry on long side.
Stock Trade Alerts
2 Sep 15 19:01:34
RT @zozotrader: $SPY 60 min chart update lined 197.50 up above http://t.co/zAMS0hGTVP
ZOZO
2 Sep 15 18:58:32
$SPY 60 min chart update lined 197.50 up above http://t.co/zAMS0hGTVP
Ryan Detrick, CMT
2 Sep 15 18:58:08
RT @andrewnyquist: Great chart in this post by @AndrewThrasher - "Two Stock Market Indicators That Highlight Recent Selling" http://t.co/jh…
Bernard J LoVerde Jr
2 Sep 15 18:58:04
RT @bigmiketrading: Janet Yellen is straight outta ideas #ES_F $SPX $SPY $HYG $TLT $SHCOMP http://t.co/K28xYJKkxG
Hector R
2 Sep 15 18:57:55
RT @StockTwits: In volatile markets, visuals like this can be incredibly helpful. Shared by @alphatrends http://t.co/NcQFjMwPcX $SPY http:…
Bill
2 Sep 15 18:57:55
RT @KevinBCook: $SPY IMF warns G20 on slowing global growth risks ahead of meeting this weekend. Worried about China and Fed finger on lift…
Chris Kimble
2 Sep 15 18:57:38
"@JLyonsFundMgmt: (Post) Flurry Of 90% Down Days: Capitulation Or Caution? - via $SPY http://t.co/FnYy9dZctc" http://t.co/bmIUapJypa
Jay Warmack
2 Sep 15 18:56:14
@CiovaccoCapital does not appear that TLT has stepped up as the proxy for fear during recent weakness in $SPY. Trying to be patient with TLT
Bob Brinker
2 Sep 15 18:54:57
RT @JackDamn: Updated: $TLT vs $SPY year-to-date performance (%). http://t.co/G7cTPywtNh
Ashley Senn
2 Sep 15 18:54:05
RT @nixon786: $SPY $DIA $IWM $QQQ $IBB $XBI this market is again in short zone... Keep on shorting
Selvin
2 Sep 15 18:53:40
Holding few $SPY calls....will see
Jack Damn
2 Sep 15 18:52:54
Updated: S&P 500 daily. Lost 1980. Watching 1980, 2040 (up). 1867 (lower low), 1820 (dn). $SPX $SPY http://t.co/zFJlrORekR
MacroAlphaHedge™
2 Sep 15 18:52:29
RT @bigmiketrading: Janet Yellen is straight outta ideas #ES_F $SPX $SPY $HYG $TLT $SHCOMP http://t.co/K28xYJKkxG
Elo
2 Sep 15 18:49:31
RT @KevinBCook: $SPY IMF warns G20 on slowing global growth risks ahead of meeting this weekend. Worried about China and Fed finger on lift…
Tradometry
2 Sep 15 18:48:39
$SPY has been confined to a 10-point range since Feb. What if we don't bounce back or drop further, but meander between 191/201 for awhile?
Simondiamond
2 Sep 15 18:48:32
Risk parity MOM for Sept: $SPY 0%, $EFA 0%, REITS 0%, $TLT 42%, cash 58% @alphaarchitect
KAVEH ILKHANIPOUR
2 Sep 15 18:47:09
RT @andrewnyquist: Great chart in this post by @AndrewThrasher - "Two Stock Market Indicators That Highlight Recent Selling" http://t.co/jh…
tradewithjoe
2 Sep 15 18:47:00
Tiny Breakout - Very Short-Term Indicators Still Bearish - http://t.co/btYc57NmTu $SPY $DIA $QQQ $IWM
Ryan Detrick, CMT
2 Sep 15 18:46:18
RT @JLyonsFundMgmt: ICYMI>ChOTD-9/1/15 August 6-Month Lows Suggest Year-End Rally...After A New Low $SPY Post: http://t.co/A29mXaKx82 http:…
David Settle
2 Sep 15 18:45:04
09/02/15 - Today's Market Forecast™ video can be viewed here: http://t.co/0IZyuSQOIH Discussed: $SPY $IWM $EEM $CL_F $TLT $GLD $XLE $XLF $C
Phil R
2 Sep 15 18:43:54
As of Aug. 24th (#BlackMonday), the slow-motion train wreck has officially commenced. $DJIA $SPY
TV_Trading Ideas
2 Sep 15 18:43:21
SPY still weak $SPY http://t.co/768KsbvTVj
Ken
2 Sep 15 18:42:58
RT @chessNwine: I analyzed $IBB $NFLX $USO and much more in my video market recap from earlier: http://t.co/z5bUTpYCxD $SPY $STUDY
Edward Gofsky
2 Sep 15 18:40:41
RT @chatwithtraders: EP 036: Listen to this weeks interview with legendary trader, @PeterLBrandt → http://t.co/nBJf1497FB | $STUDY $QQQ $SPY
Jack Damn
2 Sep 15 18:39:44
Updated: $TLT vs $SPY year-to-date performance (%). http://t.co/G7cTPywtNh
GreenRush2014
2 Sep 15 18:39:33
"Big Money" looking at a Bull..!! Be very Careful! $SPY $SPX $QQQ $ES_F $IWM $VIX $DJIA #yuan http://t.co/jQuHuWUMKO
				
				
By  +Follow October 16, 2013 8:45AM
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