How Do You Spell Relief? How About SHORT-LIVED

Global shares traded sharply lower overnight Tuesday on weak China data until European GDP data was reported better than expected. That news, and a post-Labor Day euphoric return for many Americans, had a relief rally stirring on Wall Street Tuesday. While the day’s energy took stocks right back up to their post correction plateau, it will most likely be defined by one word: short-lived. That is because the weighty factor behind the volatility remains somewhat in place. One factor could change that, though, and it is worth watching. If the Fed indicates it will not act to raise interest rates in the near-term, implying through the October meeting, then stocks could march right back up to their year-to-date tops. That is doubtful, but increasing belief in a sidelined Fed certainly helped shares Tuesday. I anticipate continued volatility and wild swings until we have clarity about the Fed and/or until November for reasons discussed herein. See this full report on the stock market relief rally here.

Global Stock Sector	09-08-15
SPDR S&P 500 (NYSE: SPY)	+2.5%
SPDR Dow Jones (NYSE: DIA)	+2.5%
PowerShares QQQ (Nasdaq: QQQ)	+2.8%
iShares Russell 2000 (NYSE: IWM)	+2.3%
Vanguard Total Stock Market (NYSE: VTI)	+2.5%
iPath S&P 500 VIX ST Futures (NYSE: VXX)	-8.7%
iShares Europe (NYSE: IEV)	+2.9%
WisdomTree Europe Hedged Equity (NYSE: HEDJ)	+2.2%
iShares China Large Cap (NYSE: FXI)	+7.1%
iShares MSCI Japan (NYSE: EWJ)	+2.3%
iShares Germany (NYSE: EWG)	+3.6%
SPDR Gold Trust (NYSE: GLD)	+0.03%
iPath S&P GSCI Oil (NYSE: OIL)	+0.1%
iShares 20+ Treasury Bond ETF (NYSE: TLT)	-1.5%

DISCLOSURE: Kaminis is long FXI, VXX. Kaminis is short OIL. Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.