S&P 500 Value Outlook:S&P 500 Forecast: Fund Flows Reveal Tech, Treasury and Gold Weak spotThe S&P 500, Nasdaq 100 an
S&P 500 Value Outlook:
S&P 500 Forecast: Fund Flows Reveal Tech, Treasury and Gold Weak spot
The S&P 500, Nasdaq 100 and Dow Jones have been subjected to appreciable volatility to start out the month as every index negotiates both elementary headwinds or technical ranges of notice. Whereas US Treasury yields have slowed their ascent, ETF flows reveal buyers are nonetheless hesitant to pile into among the not too long ago weak areas of the market like tech shares, US Treasuries and gold.
Nasdaq-Monitoring ETF Sees Outflows on Common
To that finish, trade traded fund move information reveals withdrawals from the Nasdaq-tracking QQQ ETF proceed to outpace inflows though latest periods have seen buyers wade again into the fund. Within the year-to-date, nevertheless, QQQ has seen almost $3.2 billion go away its coffers. The index has gained almost 3% in the identical interval, however additional demand is likely to be required earlier than the Nasdaq 100 can look to proceed its upward trajectory over the longer-term.
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Buyers Check the Waters in US Treasury-Monitoring ETFs
Alternate traded funds that monitor US Treasuries are in an analogous state of affairs. Outflows have vastly outpaced inflows within the year-to-date and up to date periods have seen the development reverse considerably. Nonetheless, the 20-day shifting common stays damaging at the same time as US Treasury yields tread water round latest ranges.
Gold Continues to Clock Outflows as Losses Mount
Whereas tech shares and US Treasuries present indicators their fortunes may quickly shift, gold continues to see losses mount. Maybe unsurprisingly, the GLD ETF has endured a cataclysmic wave of withdrawals as greater than $6.2 billion has been pulled from the fund within the year-to-date. Whereas a pop larger within the shorter-term may materialize as gold appears to be like to consolidate latest losses, the constant stream of outflows may counsel gold will proceed decrease within the longer-term.
Within the meantime, observe @PeterHanksFX on Twitter for updates and evaluation.
Beneficial by Peter Hanks
Commerce Gold
–Written by Peter Hanks, Strategist for DailyFX.com
Contact and observe Peter on Twitter @PeterHanksFX
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