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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
Direxion INV
20 Oct 14 15:05:15
S&P 500 has not had 10% correction since 10/03/1, http://t.co/zo8a3pGSoq but had 5 tumbles between 5-10% in the last 3 years $VSPY $SPY
Karim
20 Oct 14 15:04:36
Trading account now empty of any equity stock, including $AAPL, now over 98% cash. I don't buy this latest enthusiasm $SPY
Grabagun Com
20 Oct 14 15:02:02
RT @philstockworld: The Levels We're Watching and the Positions We're Taking for the Week Ahead: $SPY $DIA $QQQ $IWM $AAPL -- http://t.co…
David Shvartsman
20 Oct 14 15:01:17
Paul Tudor Jones discusses the 1987 "Black Monday" market crash w/ FNN. http://t.co/8cW42DZiVz $SPY $DJIA
Article First
20 Oct 14 15:00:10
RT @philstockworld: The Levels We're Watching and the Positions We're Taking for the Week Ahead: $SPY $DIA $QQQ $IWM $AAPL -- http://t.co…
Brian Murrell
20 Oct 14 14:57:54
RT @philstockworld: The Levels We're Watching and the Positions We're Taking for the Week Ahead: $SPY $DIA $QQQ $IWM $AAPL -- http://t.co…
S↕♏✪n™
20 Oct 14 14:56:30
#semiconductors ARE BACK!!! $SPY #leader.
Natalie
20 Oct 14 14:55:37
RT @philstockworld: The Levels We're Watching and the Positions We're Taking for the Week Ahead: $SPY $DIA $QQQ $IWM $AAPL -- http://t.co…
Don
20 Oct 14 14:54:15
$SPY SELL OCT24 14 Call 191 @ 1.14 for a 9% gain
PennyStock Zone
20 Oct 14 14:53:14
Big Trader In The News - Shocking! Video testimonials! http://t.co/XsjluSCfu7 $NFLX $NLNK $SPY $IWM $ESI #stocks
Guy Stout, MS
20 Oct 14 14:52:15
RT @philstockworld: The Levels We're Watching and the Positions We're Taking for the Week Ahead: $SPY $DIA $QQQ $IWM $AAPL -- http://t.co…
Vaughn Okumura
20 Oct 14 14:51:21
shorted more $SPY at 190.90 in after-hours trading...29 long positions, 1 short pos....currently 199.1% net long (263.0% long + 63.9% short)
Vermont Promo
20 Oct 14 14:51:01
RT @philstockworld: The Levels We're Watching and the Positions We're Taking for the Week Ahead: $SPY $DIA $QQQ $IWM $AAPL -- http://t.co…
Kenzie Sebastian
20 Oct 14 14:50:31
$SPY 190.30 (+0.97%) ⬆️ http://t.co/cdBaihJ1de
♥ @MyOrgone ♥
20 Oct 14 14:49:28
Stop trading $AAPL!!! Make 100% per year using our 'Top 10 Hedge Fund' Artificial Intelligence - http://t.co/x7MDlPJXnp $SPY @CNBC
NiceTrade
20 Oct 14 14:49:14
Already 5% since intraday low last Wednesday $SPY $SPX $ES_F
Sarah Whit
20 Oct 14 14:47:34
RT @philstockworld: The Levels We're Watching and the Positions We're Taking for the Week Ahead: $SPY $DIA $QQQ $IWM $AAPL -- http://t.co…
dynofuz
20 Oct 14 14:45:01
Tue (Oct 21, 2014) US markets $SPY $DJIA & $NASDAQ will close HIGHER. #marketpredictions
Mia
20 Oct 14 14:44:43
RT @philstockworld: The Levels We're Watching and the Positions We're Taking for the Week Ahead: $SPY $DIA $QQQ $IWM $AAPL -- http://t.co…
Navi Avatar
20 Oct 14 14:44:37
RT @TheOptionDon: "@theoptiondon: 10/20: Market Update {VIDEO} $SPY $AAPL $TSLA $NFLX $BABA http://t.co/oVO1bnkFpn"
Max Ganik
20 Oct 14 14:44:20
China GDP will influence global markets tomorrow. $SPX $SPY $QQQ $VIX
Max Ganik
20 Oct 14 14:43:56
We need a close above 1906 on $SPX and $SPY tomorrow. If we fail, especially after solid $AAPL earnings, I will be a buyer of $SPY puts.
Navi Avatar
20 Oct 14 14:43:36
We have $AAPL Jan 105 Call from 2.25 and Jan 110 Call from 1.25 - Booom ER blowout 3x to 5x coming $SPY VIP Platinums http://t.co/dswha5RHKx
Chaker Khazaal
20 Oct 14 14:43:13
RT @philstockworld: The Levels We're Watching and the Positions We're Taking for the Week Ahead: $SPY $DIA $QQQ $IWM $AAPL -- http://t.co…
NiceTrade
20 Oct 14 14:42:32
Computer driven market today as we've seen last 5 years $SPX $SPY $ES_F
danielstalnaker
20 Oct 14 14:42:32
RT @philstockworld: The Levels We're Watching and the Positions We're Taking for the Week Ahead: $SPY $DIA $QQQ $IWM $AAPL -- http://t.co…
Navi Avatar
20 Oct 14 14:41:22
continuing to ride $MNST Nov 95 Call from 2.00 - now 3.80 moving up our stops as she rips higher $SPY VIP Platinum http://t.co/dswha5RHKx
Brad Boegler
20 Oct 14 14:40:08
RT @philstockworld: The Levels We're Watching and the Positions We're Taking for the Week Ahead: $SPY $DIA $QQQ $IWM $AAPL -- http://t.co…
aziz saba
20 Oct 14 14:37:24
UPstocks latest newsletter $SPY $IWM $NLNK $IBIO $INO $ESI http://t.co/K554oKj7cC
Scott Smith
20 Oct 14 14:37:17
Some waiting for major indexes $QQQ $DIA $IWM $SPY to move higher to be convinced. I far prefer the risk/reward ratio better, LOWER. $STUDY
Seeking Alpha
20 Oct 14 14:36:56
Monday Mailbag: I Want To Buy The Alerian http://t.co/jRk8dhpSNW $VFINX $SPY $AMJ $AMU $AMLP
John Zelezny
20 Oct 14 14:35:38
RT @philstockworld: The Levels We're Watching and the Positions We're Taking for the Week Ahead: $SPY $DIA $QQQ $IWM $AAPL -- http://t.co…
CL Fractalerts
20 Oct 14 14:35:08
Confidently trade $SPY http://t.co/ezMuP5KUVT
Kelly King
20 Oct 14 14:34:19
RT @philstockworld: The Levels We're Watching and the Positions We're Taking for the Week Ahead: $SPY $DIA $QQQ $IWM $AAPL -- http://t.co…
Trader Cracker
20 Oct 14 14:33:56
RT @StockTwits: Here's how the current correction compares to the one that happened in 2010 -> http://t.co/wdqfIZcQKY $SPX $SPY
Max Ganik
20 Oct 14 14:33:39
@cheri8891 I think we have 1 more leg down, but I expect the $SPY to hit $195-$200 by year-end.
Emily
20 Oct 14 14:32:14
RT @philstockworld: The Levels We're Watching and the Positions We're Taking for the Week Ahead: $SPY $DIA $QQQ $IWM $AAPL -- http://t.co…
Jeff Feldman
20 Oct 14 14:31:28
RT @philstockworld: The Levels We're Watching and the Positions We're Taking for the Week Ahead: $SPY $DIA $QQQ $IWM $AAPL -- http://t.co…
Christopher Woofter
20 Oct 14 14:31:02
RT @philstockworld: The Levels We're Watching and the Positions We're Taking for the Week Ahead: $SPY $DIA $QQQ $IWM $AAPL -- http://t.co…
Daniel B.
20 Oct 14 14:30:28
RT @philstockworld: The Levels We're Watching and the Positions We're Taking for the Week Ahead: $SPY $DIA $QQQ $IWM $AAPL -- http://t.co…
Glorimar Perez
20 Oct 14 14:29:21
RT @philstockworld: The Levels We're Watching and the Positions We're Taking for the Week Ahead: $SPY $DIA $QQQ $IWM $AAPL -- http://t.co…
Parent Talk
20 Oct 14 14:28:28
RT @stockguy22: #afterhours RECAP : UP.. $RFMD $XIV $TXN $SWKS $AAPL $ILMN $IWM $SPY DOWN.. $RMBS $TRN $CMG
Carolyn B Miciano
20 Oct 14 14:28:02
Use technical analysis to time entries and exits http://t.co/eXVoRQFhA3 $SPY $QQQ $IWM
Stockguy22
20 Oct 14 14:26:13
#afterhours RECAP : UP.. $RFMD $XIV $TXN $SWKS $AAPL $ILMN $IWM $SPY DOWN.. $RMBS $TRN $CMG
Scott Smith
20 Oct 14 14:26:10
$LAKE the inverse of $SPY? Just saying. :)
kenr0966
20 Oct 14 14:25:56
RT @mrdollamaker: $SPY Just When We Was About To Have That 10% Correction, The Market Bounces Right Back Up And Erases All The Losses In Ju…
Ryan
20 Oct 14 14:25:33
RT @philstockworld: The Levels We're Watching and the Positions We're Taking for the Week Ahead: $SPY $DIA $QQQ $IWM $AAPL -- http://t.co…
Mr. Dolla Maker
20 Oct 14 14:23:15
$SPY Just When We Was About To Have That 10% Correction, The Market Bounces Right Back Up And Erases All The Losses In Just A Few Days.
Brooke Financial
20 Oct 14 14:23:04
Warren Buffett lost about $1 billion on $IBM http://t.co/SPHjdetv6d #stocks $SPY $AAPL $CMG
Ricore
20 Oct 14 14:22:03
RT @philstockworld: The Levels We're Watching and the Positions We're Taking for the Week Ahead: $SPY $DIA $QQQ $IWM $AAPL -- http://t.co…
				
				
By  +Follow October 16, 2013 8:45AM
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