ETF Insider: Markets Take Cues From Europe

Wall Street started off the week in red territory following concerns that the euro zone debt-drama may take much longer to resolve than investors had originally anticipated last week. Euphoria was quick to return to the markets on Tuesday, however, as stocks soared in the last hour of trading, following an unofficial report that Germany and France had ironed out a bailout package to assist the debt-burdened euro zone member nations. Stocks drifted lower on Wednesday despite a better-than-expected Beige Book report, which showed that the U.S. economy continues to expand at the same steady pace as seen in the months prior. Gold remains range-bound, although the precious metal has been drifting lower all week, with futures contracts setting near $1,640 an ounce on Wednesday. Checking In: Trading Ideas This week, our technical trading ideas included a long recommendation in a commodity fund as well as a short position in [...] Click here to read the original article on ETFdb.com. Related Posts: ETF Insider: Which Way Will The Bulls Run? ETF Insider: Equities Back In Black ETF Insider: Buying Opportunities After Panic Selling Tuesday’s ETF Chart To Watch: PowerShares DB USD Index Bullish (UUP) September’s ETF Studs: Five Funds That Thrived During A Wild Month