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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
16 Sep 14 08:13:01
$SPY ... TICKs made a new LOD with $IWM at LOD but the $SPY and $QQQ not yet falling in line. Momentum leads price ...
Andreas Cseh
16 Sep 14 08:11:40
All These Justifies an #iPhone6 Price of Maybe 99$ $AAPL $DIA $SPY $QQQ @KBCEquitas @RishaadTV @CNBCAsia @SusanLiTV http://t.co/QcgPymfyEY
Rajen Kapadia
16 Sep 14 08:11:27
RT @tradingmemes: BEAR TRAP… http://t.co/MNTaD6SDc3 $SPY http://t.co/JM64DXmNSD
Ryan Detrick, CMT
16 Sep 14 08:10:30
Be sure to watch @harmongreg in this @yahoofinance video explain why the bull is far from over. http://t.co/WvnfspuJpk $SPY
♥ @MyOrgone ♥
16 Sep 14 08:10:09
Scrap $AAPL!!! Make 100% a year with our 'Top 10 Hedge Fund' Artificial Intelligence - http://t.co/8phRy3QJfL $QQQ $SPY
El Patron
16 Sep 14 08:10:02
RT @tradingmemes: BEAR TRAP… http://t.co/MNTaD6SDc3 $SPY http://t.co/JM64DXmNSD
16 Sep 14 08:09:56
BLOCK TRADE: $SPY 500,000 shares @ $199.14 [11:09:55]
Russ Dolce
16 Sep 14 08:07:12
RT @tradingmemes: BEAR TRAP… http://t.co/MNTaD6SDc3 $SPY http://t.co/JM64DXmNSD
Alexander Gloy
16 Sep 14 08:06:57
$SPY: give it another 50bps http://t.co/wrpF8tlWTf
16 Sep 14 08:06:39
BLOCK TRADE: $SPY 500,000 shares @ $199.14 [11:06:38]
ej meltzer
16 Sep 14 08:06:31
RT @tradingmemes: BEAR TRAP… http://t.co/MNTaD6SDc3 $SPY http://t.co/JM64DXmNSD
smtrader StockTrader
16 Sep 14 08:06:03
mkt still favor momo d traders, stick you head out too far bound to get chopped! $SPY $GOOGL
Blake Albers
16 Sep 14 08:05:47
RT @tradingmemes: BEAR TRAP… http://t.co/MNTaD6SDc3 $SPY http://t.co/JM64DXmNSD
Chris Kleene
16 Sep 14 08:05:12
RT @tradingmemes: BEAR TRAP… http://t.co/MNTaD6SDc3 $SPY http://t.co/JM64DXmNSD
$hane Obata
16 Sep 14 08:04:49
RT @tradingmemes: BEAR TRAP… http://t.co/MNTaD6SDc3 $SPY http://t.co/JM64DXmNSD
16 Sep 14 08:04:41
RT @tradingmemes: BEAR TRAP… http://t.co/MNTaD6SDc3 $SPY http://t.co/JM64DXmNSD
16 Sep 14 08:04:28
BEAR TRAP… http://t.co/MNTaD6SDc3 $SPY http://t.co/JM64DXmNSD
smtrader StockTrader
16 Sep 14 08:04:04
mkt fading for the folks across the pond EURO close $SPX $SPY
16 Sep 14 08:03:51
$SPY Fade here
16 Sep 14 08:02:49
Don't trade $AAPL!!! Make 100% a year with our 'Top 10 Hedge Fund' Artificial Intelligence - $SPY $QQQ http://t.co/V5krQM4XpS
Options Network
16 Sep 14 08:02:47
$IWM $SPY from chat: "charlie1: great call swat" thx Team http://t.co/jFetxbOWJP
Momentum Stocks
16 Sep 14 08:02:31
$TSLA out rest Sept-275.50 calls at 6.60 from 4.50 for 46% /// $SPY $TSLA $LNKD $BABA $YHOO $GDX
Jeremiah Sams
16 Sep 14 08:02:13
Commented on StockTwits: Curious why I sold my long play when I did? Its simple. Declining 5DMA and VWAP. $SPY $I... http://t.co/BQHDoC3IBH
Wendy Jolly
16 Sep 14 08:00:36
RT @lancejepsen: GST Morning Market Intelligence Report $spy $qqq $iwm http://t.co/rxEH7HHoVn
Lyle Love
16 Sep 14 08:00:32
RT @lancejepsen: Stock Market Prediction News For ... $spy $qqq $iwm http://t.co/qtangSVCdW #StockMarket http://t.co/gEeN21dzBP
16 Sep 14 08:00:12
Ron Ellman
16 Sep 14 08:00:00
$VIX closed 'above' its upper BB yesterday. $SPY
Coherent Variance
16 Sep 14 07:58:25
This market has turned decisively bearish imo. $SPX $SPY $IWM $QQQ
16 Sep 14 07:58:11
Again & just like yest its the battle btwn $SPY/Dow vs $IWM/$QQQ. $SPY/Dow trying 2 b Long 4 Fed tmrw while momos r trading overbt reality
16 Sep 14 07:57:34
I wonder if $spy going to hit that upper trendline again. 15m chart. http://t.co/HRC29MYBkF
16 Sep 14 07:57:34
RT @WallStJesus: Here's how stocks performed during past dollar bull and bear markets »» http://t.co/CCNjYYqbwH via @bySamRo $SPY http://t…
Momentum Stocks
16 Sep 14 07:57:18
$TSLA sold 4/5 Sept-257.50 puts at $5.83 from $4.50 for 29% /// $SPY
16 Sep 14 07:57:14
RT @WallStJesus: $SPY LARGEST OI INCREASE »» +59311 SPY Nov-14 210.0 C, OI=131545
16 Sep 14 07:57:06
RT @WallStJesus: $SPY adds to deep OTM puts as well »». +41201 SPY Mar-15 160.0 P, OI=72011 +29334 SPY Dec-14 160.0 P, OI=73348
Momentum Stocks
16 Sep 14 07:57:04
$TSLA sold 4/5 Sept-257.50 puts at $5.83 from $4.50 for 29% /// $SPY $TSLA $LNKD $BABA $YHOO $GDX
16 Sep 14 07:56:27
RT @WallStJesus: $SPY -- 1394 SPY/10 Jan-15 205.0 C (Mini) 100% Ask (IV=10.8% +0.8) OPENING
16 Sep 14 07:55:38
Good catch! RT @BenCBanks: You can't be wrong when you're on both sides... http://t.co/i8NKHTZ7Rn $OIL $SPY $QQQ
Top ETF Funds
16 Sep 14 07:54:18
Buybacks and tradebots.. http://t.co/DZrjOkaGmA $SPY #ETF #ETFs #Stocks
16 Sep 14 07:54:15
BLOCK TRADE: $SPY 500,000 shares @ $199.34 [10:54:15]
Top ETF Funds
16 Sep 14 07:54:01
10 Things You Need To Know Before The Opening Bell.. http://t.co/Pq9OXW6iu8 $SPY #ETF #ETFs #Stocks
Mark Mansfield
16 Sep 14 07:54:00
RT @BlockTradeAlert: BLOCK TRADE: $SPY 560,533 shares @ $199.28 [10:46:47]
16 Sep 14 07:53:59
Always watch $SPY with your trades. Its important you act on $SPY before you act on anything else.
Top ETF Funds
16 Sep 14 07:53:45
Another Reason the S&P 500 Could Reach 2500.. http://t.co/yNUyl6XceD $SPY #ETF #ETFs #Stocks
Stevie B
16 Sep 14 07:53:29
Worth noting Drillers RSI Below 30 "Oversold" http://t.co/ymCbRQusiM $SPY $QQQ $DO $RIG $ATW $NE #STOCKS #OIL
Top ETF Funds
16 Sep 14 07:53:28
Producer Prices Flat In August.. http://t.co/2c5HTz7cbM $SPY #ETF #ETFs #Stocks
Top ETF Funds
16 Sep 14 07:53:12
Will Alibaba push Yahoo past this 10-year resistance zone?.. http://t.co/hqnHqiUbJR $SPY #ETF #ETFs #Stocks
16 Sep 14 07:53:11
Mandar Halbe.
16 Sep 14 07:52:57
RT @TraderHMS: 341: Don`t ever feel like you are too special in the markets. They will prove you wrong. #tradingtips #markets $SPY http://t…
Top ETF Funds
16 Sep 14 07:52:55
Things Investors Should Read. Things Investors Should Avoid... http://t.co/SrqU4s3qFz $SPY #ETF #ETFs #Stocks
Top ETF Funds
16 Sep 14 07:52:39
Yahoo Runs Into Historic Overhead Supply.. http://t.co/qhXbSbRnBt $SPY #ETF #ETFs #Stocks
By  +Follow October 16, 2013 8:45AM



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