Low Volume From The Holiday Should Push These Key Market ETFs Higher
“Dow 11,000 is not far away. It is also possible the powers that be, Treasury, Administration, Federal Reserve will want to make headlines in the news, going into a holiday weekend by slamming the DOW through 11,000. A close above 11,000 could very well be in the cards purely based on the manipulation factor,” Gareth Soloway Reports From In The Money Stocks.
Soloway goes on to say, “The light volume is a true catalyst for upside. It enables the markets to float higher and get small buy programs that create big pops. I have discussed in depth how light volume has been one of the major driving forces behind the recent jump in stock prices. If you look at the SPDR S&P 500 ETF (NYSE:SPY), anytime it trades less than 200 million, the markets are flat or higher. Anytime it trades higher than 200 million, the SPY is lower. The volume factors can also be noted on the PowerShares QQQ Trust, Series 1 (NASDAQ:QQQQ). Keep an eye on key stocks like Apple Inc. (NASDAQ:AAPL) and JPMorgan Chase & Co. (NYSE:JPM). Also, watch Research In Motion Limited (NASDAQ:RIMM) as they are set to report earnings Wednesday, March 31st, after the markets close.”
“Listed above are the reasons that the market could continue the rally next week. There are just as many reasons for the markets to fall. The key overall will be volume. Decent volume, the markets most likely fall. Light holiday volume, the markets should hold up,” Soloway Reports.
So with the holiday weekend ahead, one would expect traffic to be relatively low and may fair well with Soloway’s report. Keep an eye on the volume of these ETFs and look for the DOW to break the 11,000 barrier within the next week. We have put some key details together on the PowerShares QQQ ETF (QQQQ) and the SPDR S&P 500 ETF (SPY) below for you to look at. Investors should also note that the PowerShares QQQ ETF (QQQQ) is weighted heavily in Apple Inc. (AAPL) to the tune of 16.49 % and could move the ETF in any direction with any company specific news.
Here are the details on the ETFs:
PowerShares is the sponsor of one of the most traded securities in the world – PowerShares QQQ™ (Symbol: QQQQ). PowerShares QQQ™ seeks to replicate the NASDAQ-100 Index®, which includes 100 of the largest, most innovative non-financial companies that trade on the NASDAQ Stock Market®. Formerly known as the NASDAQ-100 Index Tracking Stock® or QQQ, PowerShares QQQ™ gained its popularity through investment professionals, private investors and more recently, financial advisors. Today, over 1 million people are harnessing the power of PowerShares QQQ™ through the implementation of various investment strategies.¹ These strategies include a diversified, long-term investment approach and the provision of a full suite of derivative products that may be used in conjunction with the PowerShares QQQ™.
The SPDR® S&P 500® ETF (SPY) is a fund that, before expenses, generally corresponds to the price and yield performance of the S&P 500 Index (Ticker: SPTR). Our approach is designed to provide portfolios with low portfolio turnover, accurate tracking, and lower costs.
|Exxon Mobil Corp (XOM)||3.00%||35,460,948|
|Microsoft Corp (MSFT)||2.13%||57,310,356|
|Apple Inc (AAPL)||1.99%||6,810,870|
|General Electric Co (GE)||1.85%||80,139,790|
|Procter & Gamble Co (PG)||1.75%||21,816,032|
|Bank Of America Corporation (BAC)||1.71%||75,349,420|
|Jpmorgan Chase & Co (JPM)||1.68%||29,840,800|
|Johnson & Johnson (JNJ)||1.68%||20,669,424|
|International Business Mach (IBM)||1.58%||9,756,606|
|Wells Fargo & Co New (WFC)||1.52%||38,912,010|