Taking a Look at Market Leadership Groups
The chart below plots the ratio of the SPX vs. XLF. When the ratio falls, financials are out-performing the broader market. Since 2010, when the ratio has fallen to line (1) support, it has marked almost perfectly, broader market tops in…...
SPX Price Action from This Monday Resembles that from Other Turning Points Since 2007
Into Monday’s close on 8/20 we put up this post that suggested the statistical aspects of that day’s price action were bearish, and in-line with the statistical characteristics of areas since 2007 that were at, or very close to, major…