Business Wire - 03/24/2015First Trust Advisors L.P. announces the declaration of distributions for 71 of 94 exchange-traded funds advised by FTA.
BY Scott Martindale,
Stocks saw elevated volume and volatility last week, and the 100-day simple moving average on the S&P 500 proved to be the proverbial line-in-the-sand for bullish investors. I opined last week that the market seemed to have sufficiently cycled back down to oversold territory, so with a little more technical consolidation and successful testing of nearby support levels, the next move higher could easily commence at any time. So, the question remains as to whether that was the big new buying opportunity, or whether more backing-and-filling is needed. Personally, I would prefer to see a successful test of the 200-day SMA, but the market might not be so generous. The S&P 500 has turned back up from oversold territory and could rally further from here. Looking at the ten U.S. business sectors, Technology has surged to the year-to-date performance lead while Utilities has lost its big lead and now sits in a virtual tie for second place in YTD performance with Energy and Healthcare. Overall, this week's fundamentals-based Outlook rankings look neutral to me. Moreover, our sector rotation model suggests a neutral stance holding Technology, Healthcare, and Utilities. Also discussed are some alternative highly-ranked ETFs and individual stock ideas from within the top-ranked sectors, and what the model suggests if you have a neutral or bearish outlook.