Low Beta Leaders @ Resistance; High Beta Laggards @ Support = Potential Inflection Point for Broader Risk Appetite
Below is quarter-to-date (QTD) performance across SPX sector ETFs. Leaders (lower beta and only sectors up QTD): 1) Utilities (+11%) 2) Healthcare (+7%) 3) Staples (+6%) 4) Consumer Disc (+1%) Laggards (higher beta): 1) Energy (-5%) 2) Financials (-4%) 3) Industrials…...
Taking a Quick Dive into Market Internals
Attached is a chart that compares new 52 week lows on the NYSE against the SPX over the past year+. A couple of points that should stand out immediately: 1) New 52 week lows continue to trend higher even as…...
Revisiting the R2K – If History is Correct, Downside Risks Remain Elevated over Intermediate-Term
On 5/31/12 we ran a post on the R2K that suggested, based on its current price structure and momentum in the context of history, the path of least resistance for the index was lower, not higher, over the intermediate term…....