The markets and exchange traded funds (ETFs) did not seem to take any kind of summer vacation this month, as they were moving up and down throughout the month. In the end, domestic markets ended the monthly basically flat, with small-cap ETFs outperforming large- and mid-caps.
European, Asian and Emerging markets ended the month with mixed results. However, the Chinese ETFs were the top performers, gaining about 9%.
Despite the credit crunch and mortgage problems, real estate and finance ETFs ended on a positive note. To view asset class, sector and regional ETF performance, click here.
The general market fell below its long-term trend line this month, only to go above and below a few times. The S&P 500 ended the month 1.6% above the 200-day moving average.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.