The
“negative key reversal” such as occurred last May 22 has got a lot of play in
the financial media. A negative key reversal day is a down day on a stock or an
index that has two conditions. The price rises inter-day to trade above the
pervious day’s high and then reverses downward to trade lower than the previous
day’s low. A negative key reversal day is touted to be rare and very deadly. Some
technical analysts claim this to be a rare event – it is actually occurs with great
frequency with little consequence. For example the S&P500 stock index over
the last six months had negative key reversal days on Feb 7, 2013. Feb 25,
2013, May 1, 2013 and May 22, 2013. We all managed to live through these nasty
signals.
More
notable is the recent bounce in interest rates. Last Friday June 21, 2013 a
number of interest sensitive ETFs sold down to new 52-week lows. The list below
is rather overwhelming. Perhaps the bond market is now “the sell of a
generation.”
Name Security
Symbol
BMO
Aggregate Bond Index CAD unit ZAG
BMO
Emerging Markets Bond CAD unit ZEF
BMO
Long Corporate Bond CAD unit ZLC
BMO
Long Fed Bd Index ETF CAD unit
ZFL
BMO
Mid Corporate Bond CAD unit ZCM
BMO
Mid Fed Bd Index ETF CAD unit ZFM
BMO
M-T US IG Corp Bd Hdg CAD unit ZMU
BMO
M-T US IG Corp Bond USD unit ZIC.U
BMO
Real Return Bd Index CAD unit ZRR
BMO
S&P/TSX Laddered Pfd CAD
unit ZPR
BMO
Short Corporate Bond CAD unit ZCS
BMO
Short Provincial Bond CAD unit ZPS
BMO
SP/TSX E W Glb Bs Met CAD unit ZMT
BMO
US Dividend ETF USD unit ZDY.U
iShares
1-10 Yr Ld Cp Bd com unit CBH
iShares
1-5 Year Ld Cp Bd com unit CBO
iShares
1-5 Year Ld Gv Bd com unit CLF
iShares
Advantaged Cdn Bd com unit CAB
iShares
Alter Comp Prtfl
unit XAL
iShares
BRIC Index Fund com unit CBQ
iShares
DEX All Corp Bond index unit XCB
iShares
DEX Govt Bd index unit XGB
iShares
DEX HYBrid Bond index unit XHB
iShares
DEX Long Term Bd index unit XLB
iShares
DEX Real Ret Bd index unit XRB
iShares
DEX Short Term Bd index unit XSB
iShares
DEX Universe Bond index unit XBB
iShares
Dvrsfd Mnthly index unit XTR
iShares
S&P Latin Amer 40 unit XLA
iShares
S&P/TSX Cap Mat index unit XMA
iShares
S&P/TSX Cap REIT index unit XRE
iShares
S&P/TSX CDN Pfd com unit CPD
iShares
S&P/TSX Glbl Gld index unit XGD
iShares
US IG Corp Bond unit XIG
iShrs
Adv US High Yld Bd com unit CHB
iShrs
DEX ST Cp + Mpl
Bd t XSH
iShrs
JPM USD Emrg Mrk Bd unit XEB
iShrs
S&P/TSX N A Pfd Stk I ndex unit XPF
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