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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
For_SaleByOwner
2 Oct 14 03:33:52
Facebook Analyst Ratings, Earnings, Dividends and Insider Trades | $FB | NASDAQ:FB | Analyst Ratings Network http://t.co/RGVMFYhuSq $FB $spy
Dr. Duru
2 Oct 14 03:32:09
T2108 Update – A Long Overdue Close In Oversold Conditions (And How To Trade It) $VIX $CAT $QQQ $SPY $SSO http://t.co/5ad6Q4DUh1
TalkMarkets
2 Oct 14 03:32:08
T2108 Update – A Long Overdue Close In Oversold Conditions (And How To Trade It) $VIX $CAT $QQQ $SPY $SSO http://t.co/3RVc0XgbvC
Dan Nathan
2 Oct 14 03:30:21
Wednesday's Notable Options Activity: $SPY, $EWZ, $FXI, $KMI, $RIG, $MU http://t.co/KKBcOSqY1l @EnisTaner
Steve Burns
2 Oct 14 03:27:57
RT @Elsley_David: WTI Oil Futures testing one year lows this morning; Fall in Oil usually good for economy and good for #stocks $SPY $SPX”
David Elsley
2 Oct 14 03:27:15
@SJosephBurns WTI Oil Futures testing one year lows this morning; Fall in Oil usually good for economy and good for #stocks $SPY $SPX
Stocks News&Markets
2 Oct 14 03:20:06
Tim Sykes made $5,029 on $VUZI -- Check it out! http://t.co/hff7svDZr9 Learn #howtotrade #stocks http://t.co/axK8SMSgo9 $FB $SPY
John Randel
2 Oct 14 03:16:12
Oil prices tumbled to year lows Wednesday on news that Saudi Arabia lowered prices for its crude $SPY $USO http://t.co/QJTl7S9Fd1 via @WSJ
In to Win
2 Oct 14 03:13:28
Putin is no dummy, read this article in full. "monetary policy" $spy $dia Putin: Russia will remain open economy http://t.co/voSt3I7F6t
Quang Doan
2 Oct 14 03:10:52
Mayday, Houston world marketing is crashing now. better sell everything. lol.. $ES_F $SPY $AAPL $TSLA $AMZN $NFLX $TWTR $FB.
Stocks News&Markets
2 Oct 14 03:10:06
lx21 made $28,773 on $LQMT -Check it out! http://t.co/05334pjSbz Learn #howtotrade http://t.co/axK8SMSgo9 $FB $SPY $stocks
TradingView
2 Oct 14 03:08:52
$SPY - In the short term, I expect a sideways trend. - https://t.co/dvAwxYkF2u
GuerillaStockTrading
2 Oct 14 03:06:01
GST Morning Market Intelligence Report $spy $qqq $iwm http://t.co/9ICN2g083U
Scott Redler
2 Oct 14 03:04:42
Thanks for including my levels & thoughts again. Together we warned of this a few weeks back $spx $spy http://t.co/ETStbRPS8z
Gotham City Capital
2 Oct 14 03:01:40
@GoGoBio @SolarMelt Because the markets are at a pivotal time in which they could dump down to $SPY 190.. OR... Rebound like crazy!!!
msputoptions
2 Oct 14 03:00:27
$SPY remains oversold
Stocks News&Markets
2 Oct 14 03:00:06
Nate Michaud made $2,160 on $GOGO -Check it out! http://t.co/fdZuVSWgTz Learn #howtotrade http://t.co/axK8SMSgo9 $FB $SPY $stocks
Gotham City Capital
2 Oct 14 02:59:21
@Toad Well, it WILL eventually selloff... Especially if $SPY breaks support here.. Everything selling.. Play safe bro!!
TradingView
2 Oct 14 02:49:56
$SPY/TLT - SPY/TLT update - 10/01/2014 - https://t.co/QSxZn1BSMf
Fabio Di Felice
2 Oct 14 02:43:19
RT @tradingview: $SPY - So what now? (SPY) - https://t.co/auOW8rcKlU
Fabio Di Felice
2 Oct 14 02:42:58
RT @tradingview: $SPY - Last line of defense for the bulls - https://t.co/2Mlxbf3d2W
TradingView
2 Oct 14 02:40:27
$SPY - So what now? (SPY) - https://t.co/auOW8rcKlU
TradingView
2 Oct 14 02:39:39
$SPY - Last line of defense for the bulls - https://t.co/2Mlxbf3d2W
TradingView
2 Oct 14 02:39:05
$SPY - SPY: Falling Head and Shoulders - https://t.co/iAVSR14zef
Andreas Cseh
2 Oct 14 02:34:00
Cheap #oil - #SaudiArabia might liquidate #US/#EU assets $dia $spy $qqq $ewg http://t.co/YrbLwqHlEi @Schuldensuehner http://t.co/wQOjB9XZx3
John Melloy
2 Oct 14 02:32:07
RT @RedDogT3: For today see how $spy's handle $193.91 under this 150day is $192.77. Resistance is $195.25 then $196.77
Stocks News&Markets
2 Oct 14 02:30:05
Tim Sykes made $12,639 on $ECNC -- Check it out! http://t.co/AHpexolhID Learn #howtotrade #stocks http://t.co/axK8SMSgo9 $FB $SPY
PK
2 Oct 14 02:30:04
$SPY is still intact ? = #complacency
John Ducas
2 Oct 14 02:25:14
@RedDogT3 from both fundamental and technical perspective, $SPY markets are going to correct
Stocks News&Markets
2 Oct 14 02:25:05
lx21 made $17,214 on $CMM -Check it out! http://t.co/vEl4sRqBip Learn #howtotrade http://t.co/axK8SMSgo9 $FB $SPY $stocks
Scott Redler
2 Oct 14 02:24:07
For today see how $spy's handle $193.91 under this 150day is $192.77. Resistance is $195.25 then $196.77
PK
2 Oct 14 02:22:11
$SPY Guess what? When u put together those small daily drops u get a ? = #Marketcorrection
PK
2 Oct 14 02:21:36
$SPY Bulls continue with their "its still good" phenomena - remember they wr criticing bears 4 talking about small daily drops ? Guess what.
Stocks News&Markets
2 Oct 14 02:20:05
Nate Michaud made $3,183 on $JCP -Check it out! http://t.co/I7Q4PrRyaS Learn #howtotrade http://t.co/axK8SMSgo9 $FB $SPY $stocks
Options Edge
2 Oct 14 02:10:36
Since 1964, years with declines of 1% or + on the first trading day of October have turned around to average a full month gain of 4.25% $SPY
artificial mustaches
2 Oct 14 02:10:04
Managing Risk With Less Prediction and More Discipline by David Fabian http://t.co/aJUsYtCEns $VXX $UVXY $SPY $STUDY
Luke Parker
2 Oct 14 02:09:47
Commented on StockTwits: "@xtremezz: $SPX $SPY Before you get too excited, be sure to read the whole script.... http://t.co/8ebPhAeCtL
Anil
2 Oct 14 02:03:49
RT @alpepinnazzo: Since 1964, years with declines of 1% or + on the first trading day of October ve turned around to average a full month g…
Anil
2 Oct 14 02:02:29
RT @alpepinnazzo: $SPY Half of the index’s gains over the past 25 years took place during the final 3 months of the year
alpe pinnazzo
2 Oct 14 02:02:26
TA (useless) : SPX broke below the lower limit of a long-term rising wedge pattern but u know 5% rule is in place again $SPY
Rubin Justice
2 Oct 14 02:01:38
RT @lancejepsen: GST Morning Market Intelligence Report $spy $qqq $iwm http://t.co/ePcHKxZy7y
Lloyd Stanley
2 Oct 14 02:01:37
RT @lancejepsen: GST Morning Market Intelligence Report $spy $qqq $iwm http://t.co/uk6yLJjJKc
$TF_f Alerts
2 Oct 14 01:46:34
New $SPY alerts have recently been posted. Check them out now. http://t.co/VqqzBd9Y6A
Kora Reddy
2 Oct 14 01:46:07
RT @alpepinnazzo: Since 1964, years with declines of 1% or + on the first trading day of October ve turned around to average a full month g…
alpe pinnazzo
2 Oct 14 01:45:45
Since 1964, years with declines of 1% or + on the first trading day of October ve turned around to average a full month gain of 4.25% $SPY
Danny
2 Oct 14 01:44:44
@paststat US Dollar suffocating commodities and running over counterparts. But $SPY is bottoming here IMO. Have some data on it?
Kora Reddy
2 Oct 14 01:43:38
working with one variable itself is bit tough on $SPY , now this $UUP at yr high and $USO at yr low ..
Seeking Alpha
2 Oct 14 01:42:06
Does IMF Stand For 'It's Mostly Fantasy'? http://t.co/NScwZOK6by $SPY $QQQ $DIA
Stocks News&Markets
2 Oct 14 01:40:06
Nate Michaud made $1,300 on $GALT -Check it out! http://t.co/oUFilDzLTA Learn #howtotrade http://t.co/axK8SMSgo9 $FB $SPY $stocks
Stocks News&Markets
2 Oct 14 01:40:05
Tim Sykes made $6,130 on $WATT -- Check it out! http://t.co/MdcCbdXGAF Learn #howtotrade #stocks http://t.co/axK8SMSgo9 $FB $SPY
				
				
By  +Follow October 16, 2013 8:45AM
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