SP 500 new highs minus new lows

Your main point is correct-there's more stocks doing shitty today than during other notable recoveries-but your point about the index is nonsensical. It's IMPOSSIBLE to bull up the index w/o buying-via programs-all the components of said index. In a futures induced rally all boats rise with the tide. If anything this has been a stock pickers rally with a few certain select stocks being bulled up-mostly tech and a few financial ala GS and JPM- while the general list limps along.



Quote from Rickshaw Man:

Market breadth on this weekly chart is clearly lagging this whole year. This divergence is worrisome. I feel the market will be supported till year end, for all the various reasons, but the strength is clearly not their. The index futures have been a favorite tool for market manipulation and IMO has created this divergence as the underling stocks that make up the index are not making the cut.
More...
 
You must log in or register to reply here.
Back
Top