Recent data of ETF inflows and outflows is pretty much what most investors might expect but many have wondered whether this data can be used as a contrary indicator for various markets. The WisdomTree Japan Total TOT +1.72% Dividend Index (DXJ) that I reviewed yesterday had the largest inflow of $8.3 billion in the 1st half of 2103.
It should be no surprise that the biggest outflows—$18 billion—were in the SPDR Gold Trust (GLD), which was over double the $8.2 billion outflow from the iShares Emerging Markets (EEM). Also high on the list was the iShares Barclay TIPS Bond ETF (TIP), which lost $4.7 billion.
The bearish sentiment on gold has been very high for many months but that did not help GLD from avoiding a double digit slide in June. In the early May article, The Most Vulnerable Market, the technical outlook on both the SPDR Gold Trust (GLD) and the gold miners pointed to still lower prices.
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