Outlook for Thursday, May 29, 2014
First Trust NASDAQ Clean Edge Index ETF (NASDAQ:
Eight U.S. states plan to increase the number of electric
vehicles on the road to 3.3 million by 2025, using a combination
of incentives, dealer promotions, and an expansion of recharging
stations. That would be a big jump from the current 200,000
Tesla Motors (NASDAQ:
) could be the big winner as the country continues to move
towards the widespread adoption of electric vehicles. TSLA makes
up 7.5 percent of QCLN and is the second largest holding in the
The ETF is up five consecutive days and therefore could be set
for a slowdown to end the week, but longer-term the news is
ETFs on the Move After Memorial Day
iShares 20+ Year Treasury Bond ETF (NYSE:
Money continues to flow into U.S. Treasuries as bond yields
fell to the lowest levels in nearly a year.
The yield on the 10-year Treasury fell to 2.43 percent
Wednesday, breaking major support at the 2.47 percent level.
Technically speaking the yield on the 10-year does not have any
significant support until it gets down to the 2.0 percent area,
which would have a major ripple affect across both bond and
The bond ETFs have been moving higher on the news with TLT up
1.2 percent to close at an 11-month high.
U.S. Natural Gas ETF (NYSE:
Up another 2.6 percent Wednesday, UNG is back to a three-week
high at $25.47. The ETF has been in a fairly narrow trading range
over the last few months as it continues to find support at the
$24 area. Last week the ETF fell back to $24 again before it
regained it's footing.
A major breakthrough for UNG would be a close above $28, which
could be the first leg in a sustainable uptrend.
PowerShares U.S. Dollar Index Bullish ETF (NYSE:
The greenback has been drifting higher as the
hits multi-month lows and the British Pound starts to break down.
Yesterday UUP closed 3 cents below the best closing level since
early February and today could be setting up for a
The long-term trend remains bearish, but in the near-term the
ETF could make a move to the $22 area as its peers continue to
fall in value.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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