Have Stock Investors Shrugged Off Sequestration Cut Market Shocks?

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 U.S. stock market indexes rise on Friday as sequestration cuts go into force.

sequestration, spy, dia, qqq, iwmWith the sequestration deadline come and gone, U.S. markets and major indexes advanced on Friday, shrugging off any worries about the mandatory reduction in government spending, at least for now.

The Dow Jones Industrial Average (NYSEARCA:DIA) gained 0.25% on Friday, while the S&P 500 (NYSEARCA:SPY) advanced 0.23%.

The Nasdaq 100 (NYSEARCA:QQQ) climbed 0.33% and the Russell 2000 (NYSEARCA:IWM) jumped 0.4% as investors ended a volatile week with a good day.

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Major U.S. indexes also finished the week with modest gains as they try to reclaim all time highs last seen in October, 2007.

On My ETF Radar

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A quick glance at the chart of the S&P 500 (NYSEARCA:SPY) demonstrates the continued sideways action of this major U.S. index as investors try to determine if sequestration cuts will be a bad thing or not.

Resistance and support levels are clearly defined and this channel has now been underway for a full month.  Sooner or later the S&P 500 (NYSEARCA:SPY) will break one way or another, perhaps in response to the sequestration cuts or perhaps to some other catalyst not yet on the horizon…

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