After a tumultuous second second quarter, broad U.S. stock exchange traded funds are now range bound, dancing around their short-term moving averages.

The SPDR S&P 500 (NYSEArca: SPY) is 1.0% above its 50-day exponential moving average, PowerShares Nasdaq 100 (NasdaqGM: QQQ) is 1.1% above its 50-day EMA, and SPDR Dow Jones Industrial Average (NYSEArca: DIA) is 1.0% above its 50-day EMA.

Broad U.S. stocks dipped below their short-term moving averages mid-June as the Fed “tapering” talks sent scared investors away. [S&P 500 and Dow ETFs Test 50-Day Moving Average]

U.S. stocks, though, has since retraced some lost ground as quantitative easing speculation waned and investors focused more on the improving economy. For instance, on Friday, the jobs report was better-than-expected, with employers adding 195,000 new jobs in June.

Nevertheless, investors should not become too complacent as there are still some risks to consider.

For instance, mass protests under the Morsi regime has created political instability in Egypt. Egyptian stocks plunged during the last political bout when the country ousted Mubarak during the so-called Arab Spring.

Showing Page 1 of 2