2010-05-25

ETF Death & Golden Cross List for May 25

Europe, commodities and international funds, especially real estate, have seen their 50-day moving averages slide below their 200-day moving averages. The drop in Belgium (EWK) is worth noting because it has a heavy consumer staples component that's helped it hold up better than the rest of Europe, in addition to being in the relatively financially stronger northern Europe. Netherlands (EWN) will have its own death cross within the next few days.

Death crosses:
VGK Vanguard European ETF
DJP iPath DJ-UBS Commodity Index TR ETN
EFV iShares MSCI EAFE Value Index
GSG iShares S&P GSCI Commodity-Indexed Trust
DWM WisdomTree DEFA
DOO WisdomTree International Div ex-Finncls
DOL WisdomTree International LargeCap Div
EWK iShares MSCI Belgium Investable Mkt Idx
PXF PowerShares FTSE RAFI Dev Mkts ex-US
EFO ProShares Ultra MSCI EAFE
DRW WisdomTree International Real Estate
FCHI iShares FTSE China (HK Listed) Index
ADRD BLDRS Developed Markets 100 ADR Index
GII SPDR FTSE/Macquarie Global Infra 100
ADRU BLDRS Europe 100 ADR Index

Golden Cross:
TLO SPDR Barclays Capital Long Term Treasury

What does this mean? It means that we either see a brief head fake here, and these positions reverse over the next few weeks or so, or we are in for an extended bear market. One bullish factor, or less bearish, is that TLO and TLT's coming cross are based on dividend adjusted prices. They have weeks to go based on unadjusted closing prices.

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