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FINANCIAL REBOUND GIVES MARKET A BOOST -- DOW TRIGGERS P&F BUY SIGNAL -- RECORD LOW IN THE DOLLAR GIVES COMMODITIES A BIG BOOST -- AUSTRALIA, BRAZIL, AND CANADA ETFS BENEFIT FROM RISING COMMODITIES AND WEAK DOLLAR
by John Murphy,
Chief Technical Analyst, StockCharts.com
FINANCIALS ARE DAY'S STRONGEST GROUP ... My last words on Thursday evening were that the market wouldn't rally much without a bounce in the financials. It got that bounce today and rallied accordingly. For a change, the financials were the day's strongest sector (all of...
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MICROSOFT HAS BECOME A NEW MARKET LEADER -- THE NASDAQ LOOKS CHEAP RELATIVE TO THE S&P 500 -- 2007 LEADERS STILL INCLUDE FOREIGN STOCKS
by John Murphy,
Chief Technical Analyst, StockCharts.com
MICROSOFT RELATIVE STRENGTH LINE TURNS UP... Last night I showed Microsoft breaking out to a six-year high. After a bullish report, the stock is soaring another 10% today. One of our readers reacted to last night's chart with the observation that Microsoft's upside breakout hardly qualified...
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CONSUMER STAPLES CONTINUE TO SHOW GOOD RELATIVE STRENGTH -- STAPLE LEADERS INCLUDE COKE, CVS, AND MERCK -- ANOTHER DEFENSIVE SIGN IS UTILITIES DOING BETTER THAN TRANSPORTS -- MICROSOFT HITS SIX-YEAR HIGH -- AIG PLUNGES
by John Murphy,
Chief Technical Analyst, StockCharts.com
CONSUMER STAPLES SHIFT FROM LAGGARDS TO LEADERS ... One market sector that keeps showing up on the 2007 leadership list is consumer staples. The Consumer Staples SPDR (XLP) has outperformed the S&P over the last week, the last month, and since the start of 2007. That's a...
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STOCKS RALLY INTO THE CLOSE -- QQQQ REMAINS RANGE BOUND -- SEMIS WEIGH ON TECHS -- EARNINGS SEASON PRODUCES BIG GAPS -- BONDS REMAIN STRONG -- USING THE RYDEX SECTOR FUNDS CARPET
by John Murphy,
Chief Technical Analyst, StockCharts.com
STOCKS RECOVER AFTER EARLY LOSSES... Today's Market Message was written by Arthur Hill. John Murphy will be back tomorrow. - Editor
After starting the day weak and remaining weak into the afternoon, stocks surged in the final two hours and cut most of their losses by the close....
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S&P 500 BOUNCES OFF SUPPORT -- NASDAQ 100 HITS NEW HIGH -- INTERNET STOCKS SURGE WHILE CHIPS FALL -- MERCK BREAKS OUT WHILE WAL MART FALLS
by John Murphy,
Chief Technical Analyst, StockCharts.com
S&P 500 SPDRS BOUNCE OFF 149 SUPPORT... Last Friday I wrote that the first important line of defense for the S&P 500 SPDRs was 149. I got that number from the early August peak and the 50-day moving average. Chart 1 shows that Monday's...
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THIS WEEK'S DOWNTURN IN MCCLELLAN OSCILLATOR GAVE SHORT-TERM SELL SIGNAL -- HOWEVER, THAT IS STARTING TO WEAKEN THE SUMMATION INDEX WHICH IS A LONGER-RANGE MEASURE OF MARKET BREADTH
by John Murphy,
Chief Technical Analyst, StockCharts.com
MORE ON THE MCCLELLAN INDICATORS ... On Tuesday I showed the McClellan Oscillator (MOC) falling below the zero line for the first time in two months which triggered a short-term sell signal. I explained that the MOC is derived by comparing two exponential moving averages (19 and 39 days) of the...
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COMMODITIES CONTINUE TO SOAR ON FALLING DOLLAR -- XAU INDEX BREAKS OUT TO RECORD HIGH -- A FALLING DOLLAR COULD PUSH OIL TO $100
by John Murphy,
Chief Technical Analyst, StockCharts.com
EURO HITS NEW RECORD AGAINST THE DOLLAR ... With all the recent bad news on housing, and increased hopes for another rate cut by the Fed, the U.S. Dollar continues to drop like a stone. The U.S. Dollar Index recently hit a new record low. In today's...
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BIG TECHS DO IT AGAIN -- SEMIS SHOW THE WAY -- THE RETURN OF MICROSOFT AND INTEL -- TAME CPI STOKES BONDS -- CORPORTATE BOND ISHARES SURGE -- RETAIL STOCKS REMAIN WEAK -- ANOTHER LOOK AT THE PUT/CALL RATIO
by John Murphy,
Chief Technical Analyst, StockCharts.com
BIG TECHS LEAD THE WAY... Today's Market Message was written by Arthur Hill. John Murphy will be back tomorrow. - Editor
After positive news from Intel (INTC) and Yahoo! (YHOO), stocks started the day with a bang and surged higher. However, broad strength gave way to choppy trading...
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BANKS LEAD MARKET LOWER -- CITIGROUP AND KEYCORP ARE BIGGEST BANK CASUALTIES -- SENSITIVE BREADTH MEASURE TURNS NEGATIVE FOR FIRST TIME IN TWO MONTHS -- SO DO DAILY MACD LINES
by John Murphy,
Chief Technical Analyst, StockCharts.com
CITIGROUP AND KEYCORP LEAD BANKS LOWER ... Once again, financial stocks are leading the rest of the market lower. Bank stocks were hit especially hard today. Two of the biggest casualties were Citigroup and Keycorp. Chart 1 shows Citigroup falling more than 2% and threatening its summer low. Keycorp fell more...
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GOLD IS RISING AGAINST ALL CURRENCIES -- SELLING IN FINANCIALS, RETAILERS, REITS, AND SMALL CAPS WEIGHS ON MARKET -- VIX BOUNCES OFF 200-DAY LINE
by John Murphy,
Chief Technical Analyst, StockCharts.com
IT'S NOT JUST THE DOLLAR ... One of the main driving forces behind the recent rally in gold (and other commodities) has been the falling dollar. At the same time, one of the signs of a true bull market in gold is its ability to rise against other currencies...
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BIOTECH INDEX HITS NEW RECORD -- GILEAD BREAKS OUT WHILE BIOGEN TESTS MAJOR RESISTANCE LINE -- GENZYME IS BIOTECH STAR OF THE WEEK --
by John Murphy,
Chief Technical Analyst, StockCharts.com
BIOTECH INDEX EXCEEDS SPRING HIGH... We've written several bullish articles on biotechs over the past few months. Here's another one. The reason we're writing about it today is obvious from Chart 1. That chart shows the AMEX Biotechnology Index (BTK) trading over its spring...
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MARKET SUFFERS DOWNSIDE REVERSAL ON HIGHER VOLUME -- NASDAQ 100 HAS BIGGEST DROP -- SMALL CAPS FAIL FIRST TEST OF SUMMER HIGH
by John Murphy,
Chief Technical Analyst, StockCharts.com
SMALL CAPS FAIL FIRST TEST OF OLD HIGH ... Earlier today I showed the S&P 600 Small Cap Index testing its summer high at 445 and suggested that was an important test for the rest of the market. It was. And its 1.1% selloff from that resistance may...
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POINT & FIGURE BOX SIZE MAKES A DIFFERENCE -- NATURAL GAS STOCKS BREAKOUT -- GOLD AND EURO STILL IN MAJOR UPTRENDS -- ADOBE HITS RECORD HIGH -- SMALL CAPS TEST SUMMER HIGHS
by John Murphy,
Chief Technical Analyst, StockCharts.com
VARY BOX SIZE FOR SENSITIVITY ... One reader asked why I use a 1% box size on my point & figure charts. I do that for two reasons. One is that a percentage box size makes for easier comparisons between markets. Percentage box sizes eliminate the need to figure out which...
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OIL SURGES -- THE ENERGY SPDR AND THE OIL SERVICE HOLDRS HIT NEW HIGHS -- SEMIS REMAIN A DRAG -- NOVELLUS AND APPLIED MATERIALS LEAD SEMIS LOWER -- A LOOK AT THE PUT/CALL RATIO -- NET NEW HIGHS REMAIN BULLISH
by John Murphy,
Chief Technical Analyst, StockCharts.com
BIG DAY FOR ENERGY... Today's Market Message was written by Arthur Hill. John Murphy will be back tomorrow. - Editor
Energy stocks and Crude Oil were standout performers once again on Wednesday. The United States Oil Fund ETF (USO) started things off with a surge above 62. Media...
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A LOT OF NEGATIVE DIVERGENCES STILL EXIST -- MARKET LAGGARDS INCLUDE SMALL CAPS, TRANSPORTS, FINANCIALS, AND CONSUMER DISCRETIONARY STOCKS -- LEADERS ARE LARGE-CAP MULTINATIONALS OR DEFENSIVE STOCKS
by John Murphy,
Chief Technical Analyst, StockCharts.com
BREADTH DIVERGENCES STILL EXIST... One of the problems we deal with in market analysis is that we often get mixed readings from different technical indicators. This is one of those times. I showed on Friday, for example, that weekly MACD lines had turned positive. Earlier in the week, however, I...
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STRONG JOB REPORT PUSHES MARKET TO NEW HIGHS -- BONDS SELL OFF AS YIELDS TURN UP -- FORMER LAGGARDS LEAD RALLY INCLUDING FINANCIALS AND SMALL CAPS -- WEEKLY INDICATOR TURNS POSITIVE
by John Murphy,
Chief Technical Analyst, StockCharts.com
FINANCIALS AND SMALL CAPS TURN UP ... On Monday I wrote about the sharp upturn in financials and small caps, and remarked that their new strength had taken a big weight off the market. That strong trend in those two former laggards has had a lot to do with this week&...
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PHARMACETICALS ATTRACT SOME BUYING -- GROUP LEADERS ARE ABBOTT LABS, SCHERING PLOUGH, MERCK, AND BRISTOL MYERS SQUIBB
by John Murphy,
Chief Technical Analyst, StockCharts.com
DRG CLEARS 200-DAY MOVING AVERAGE ... Arthur Hill commented on new buying in pharmaceutcals yesterday. I'd like to expand on that theme today. Although money has been flowing into defensive groups like consumer staples and healthchare, we haven't seen too much interest in pharmaceuticals. Until this week...
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SEMIS DRAG NASDAQ LOWER -- SEMICONDUCTOR HOLDRS (SMH) GAPS DOWN -- INTEL AND MICRON LEAD CHIPS LOWER -- MONEY MOVES INTO BIG PHARMA -- IWM MOVES HIGHER WITHIN WEDGE -- GROWTH LEADING VALUE -- A LOOK AT SECTOR PERFORMANCE SINCE THE FED CUTS
by John Murphy,
Chief Technical Analyst, StockCharts.com
CHIPS WEIGH ON THE NASDAQ... Today's Market Message was written by Arthur Hill. John Murphy will be back tomorrow. - Editor
The Nasdaq Composite came under pressure with notable weakness in semiconductor stocks on Wednesday. The index exceeded its July high earlier this week and is up around...
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NYSE ADVANCE-DECLINE LINE IS LAGGING BEHIND THE RECENT NYSE PRICE RISE -- IN MOST PAST CORRECTIONS, THE AD LINE HIT A NEW HIGH FIRST
by John Murphy,
Chief Technical Analyst, StockCharts.com
NYSE AD LINE IS LAGGING... After yesterday's new record close by the Dow, I was asked several questions about market breadth. The reason for the questions is shown by Chart 1. Although the NYSE Composite Index closed just below its July peak, the NYSE Advance-Decline line is still...
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FINANCIALS AND SMALL CAPS LEAD STRONG MARKET RALLY -- THE DOW AND NASDAQ HIT NEW HIGHS -- EMERGING MARKETS LEAD GLOBAL STOCKS HIGHER
by John Murphy,
Chief Technical Analyst, StockCharts.com
SMALL CAPS HAVE STRONG DAY ... Although most of the reporting on today's rally will probably deal mainly with large cap market indexes hitting new highs or close to doing so, the day's biggest gains were seen in small caps. Chart 1 shows the Russell 2000 Small...
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CONSUMER STAPLES SPDR HITS NEW HIGH -- REVIEW OF PAST STAPLE LEADERS -- AND SOME NEW ONES -- COLLAPSING DOLLAR MAKES COMMODITIES TOP ASSET PERFORMER -- WEEKLY MACD LINES ARE STILL NEGATIVE BUT ARE GETTING CLOSE
by John Murphy,
Chief Technical Analyst, StockCharts.com
CONSUMER STAPLE HIGH ... On September 17 I showed the Fidelity Consumer Staples Fund hitting a new high. This week I'm showing the Consumer Staples Select SPDR (XLP) doing the same. Chart 1 shows the XLP trading over its early June intra-day peak at 27.87. It gets even...
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REVISITING THE SUBJECT OF WHETHER TECHNOLOGY STRENGTH IS ENOUGH TO OVERCOME FINANCIAL WEAKNESS -- UPDATE OF JUNE ARTICLE ON SAME SUBJECT -- AT THE MOMENT, BOTH ARE RISING
by John Murphy,
Chief Technical Analyst, StockCharts.com
WHAT'S THE REAL MESSAGE... One of our readers asked a question that I've been thinking a lot about lately. It has to do with the conflicting messages being given by the weak financials and strong technology. Financial stocks are usually viewed as leading indictors for the...
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RELATIVE STRENGTH IN LARGE CAPS -- S&P 500 EQUAL WEIGHT ETF LAGGING -- S&P 100 ETF STALLS AT RESISTANCE -- RSP HITS KEY RETRACEMENT -- IDENTIFYING CORRECTIONS -- USING OSCILLATORS FOR OVERSOLD BOUNCES -- FINDING MORE SIGNALS
by John Murphy,
Chief Technical Analyst, StockCharts.com
LARGE CAPS CONTINUE TO LEAD... Today's Market Message was written by Arthur Hill. John Murphy will be back tomorrow. - Editor
Bigger is better when it comes to relative strength in the current market environment. John Murphy has been talking about leadership in large technology stocks and the...
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NASDAQ 100 HITS NEW HIGH -- ADD SOFTWARE TO THE MARKET LEADER LIST -- ORACLE BREAKS OUT -- MICROSOFT IS PLAYING CATCH UP
by John Murphy,
Chief Technical Analyst, StockCharts.com
NASDAQ 100 IS FIRST INDEX TO HIT NEW HIGH ... To no one's surprise, the Nasdaq 100 was the day's biggest percentage gainer and the first of the major market indexes to overcome its summer high. The NDX is now trading at the highest level in six...
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MY REPLY TO SOME RECENT FEEDBACK -- ANOTHER LOOK AT GROUP LEADERS INCLUDING INTERNET AND TELECOM HOLDERS -- FINANCIALS AND RETAILERS STILL LOOK WEAK -- BIOTECH AND HIGH TECH STOCKS PUSH NASDAQ 100 TOWARD NEW 2007 HIGH
by John Murphy,
Chief Technical Analyst, StockCharts.com
PLEASE DON'T TAKE THINGS OUT OF CONTEXT... I always enjoy reading the "feedback" comments that I receive from my Market Messages. While they're not always complimentary, they do raise valid questions that I try to address in subsequent messages. In some instances, however, the...
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DOLLAR TUMBLE CONTRIBUTES TO BULLISH BREAKOUTS IN GOLD AND OTHER COMMODITIES -- CANADA AND LATIN AMERICA BENEFIT FROM RISING COMMODITIES AND FALLING DOLLAR -- A FALLING DOLLAR FUND RISES AS DOLLAR FALLS -- INVERSE MARKET FUNDS SHOULD BE SOLD
by John Murphy,
Chief Technical Analyst, StockCharts.com
FOREIGN CURRENCIES HIT NEW HIGHS AS DOLLAR PLUMMETS ... The last chart I showed on Tuesday was the US Dollar Index hitting a new low. In fact, it's now trading at the lowest level in fifteen years (since 1992). That was a direct side-effect of the Fed's...
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NASDAQ 100 ETF STALLS NEAR JULY HIGH -- MICROSOFT SHOWS RELATIVE WEAKNESS -- UTILITIES SURGE WITH FED RATE CUT -- PG&E AND EXEL LEAD UTILITIES HIGHER -- HEALTHCARE SPDR RECAPTURES 200-DAY -- MERCK AND SCHERING LEAD HEALTHCARE
by John Murphy,
Chief Technical Analyst, StockCharts.com
QQQQ HITS RESISTANCE AT 50... Today's Market Message was written by Arthur Hill. John Murphy will be back tomorrow. - Editor
The Nasdaq 100 ETF (QQQQ) surged with the rest of the market on Tuesday and then stalled around resistance at 50 on Wednesday. Resistance in this area...
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FED'S BOLD MOVE PUSHES MARKET INDEXES THROUGH RESISTANCE BARRIERS -- DAY'S LEADERS ARE BASIC MATERIALS (INCLUDING GOLD), FINANCIALS, RETAILERS, SMALL CAPS-- LATIN AMERICA LEADS GLOBAL RALLY -- DOLLAR DROPS TO NEW LOW
by John Murphy,
Chief Technical Analyst, StockCharts.com
FINANCIALS SPDR CLEARS 50-DAY LINE ... Yesterday I wrote that one of the things the market needed to regain its footing was for the Financials SPDR (XLF) to clear its 50-day moving average. It did that today in pretty decisive fashion as shown in Chart 1. Equally impressive was the jump...
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FED CUTS FED FUNDS AND DISCOUNT RATES BY 50 BASIS POINTS -- FINANCIALS LEAD MARKET RALLY -- WEAK DOLLAR PUSHES GOLD TO RECORD HIGH
by John Murphy,
Chief Technical Analyst, StockCharts.com
FED ALSO LOWERS THE DISCOUNT RATE... The Fed gave the market all it wanted and more. Not only did it lower the Fed funds rate by 50 basis points, it lowered the discount rate a similar amount. Not surprisingly, the stock market is reacting very favorably. The Dow is surging...
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TELECOM HOLDER SHOWS GOOD RELATIVE STRENGTH -- AT&T AND VERIZON ARE THE MAIN HOLDINGS -- ALTHOUGH BOTH HAVE STRONG CHART PATTERNS, VERIZON MAY OFFER THE BETTER VALUE
by John Murphy,
Chief Technical Analyst, StockCharts.com
TELECOM HOLDERS ... In some of my recent messages, I've been highlighting defensive groups like consumer staples, healthcare, energy, and gold. Telecom should also be included in that group. I've written several positive articles on the telecom group over the past two years, with the most recent...
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COMMODITIES ARE WEEK'S TOP PERFORMER -- NATURAL GAS JOINS ENERGY RALLY -- XTO, APACHE, DEVON, AND NOBLE ARE GAS LEADERS -- EBAY POWERS INTERNET HOLDERS -- WATCHING P&F CHARTS AND MOVING AVERAGES FOR SIGNS OF IMPROVEMENT
by John Murphy,
Chief Technical Analyst, StockCharts.com
COMMODITY ETF TESTING OLD HIGH ... Commodities were the weak's strongest asset class through Thursday. Not surpisingly, the U.S. Dollar was the weakest. That commodity strength is displayed in Chart 1, which shows the DB Commodities Tracking Index Fund (DBC) moving up to challenge its summer highs. The...
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MUTUAL FUND LEADERS OVER LAST TWO MONTHS ARE ENERGY, GOLD, HEALTHCARE, AND CONSUMER STAPLES -- PROCTER & GAMBLE AND PEPSI HIT NEW HIGHS -- COKE NEARS SIX-YEAR HIGH -- FINANCIAL BOUNCE HELPS MARKET GAIN MORE GROUND
by John Murphy,
Chief Technical Analyst, StockCharts.com
FIDELITY RANKINGS ... Using the Fidelity Carpet, I looked at the rankings of sector mutual funds over the last two months. Not surprisingly, two of the top sectors were energy and gold which reflected strong action in their respective commodities. Arthur Hill and I have been writing a lot of bullish...
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RISING OIL WEIGHS ON DOLLAR AND AIRLINES -- BEARISH PATTERNS FOR SMH -- A TALE OF TWO GAPS -- IWM REMAINS STYMIED AT 80 -- BIOTECH HOLDRS SURGE -- DNA AND AMGN PUSH BBH HIGHER -- GILEAD BOUNCES OFF 200-DAY
by John Murphy,
Chief Technical Analyst, StockCharts.com
OIL SURGES TO NEW HIGHS ... Today's Market Message was written by Arthur Hill. John Murphy will be back tomorrow. - Editor
The U.S. Energy department reported a drop in crude oil supplies and this sparked a rally in black gold. West Texas Intermediate Crude ($WTIC) moved above...
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NYSE BULLISH PERCENT AND SUMMATION INDEXES ARE STILL IN BEAR TERRITORY -- THREE HEALTHCARE LEADERS WITH GOOD CHART PATTERNS -- CELGENE HITS RECORD HIGH -- STRYKER NEARS 2007 HIGHS -- MEDTRONIC ON VERGE OF BULLISH BREAKOUT
by John Murphy,
Chief Technical Analyst, StockCharts.com
ANOTHER LOOK AT BULLISH PERCENT INDEX ... One of our readers asked me to take a fresh look at the NYSE Bullish Percent Index (BPNYA). The BPNYA is the percent of NYSE stocks that are in point & figure uptrends. I wrote recently that moves below 50% are indicative of a...
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US DOLLAR IS THREATENING LONG-TERM SUPPORT WHILE XAU INDEX IS CHALLENGING ITS OLD HIGH -- GOLD NEARS TEST OF 2006 HIGH
by John Murphy,
Chief Technical Analyst, StockCharts.com
DOLLAR IS SITTING ON BIG PRECIPICE ... The U.S. Dollar has been weighed down recently by the sharp drop in U.S. interest rates and the near certainty that the Fed will lower the Fed funds rate next week. That puts the greenback at a very dangerous point. Yesterday'...
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RISING YEN AND VIX STILL THREATEN GLOBAL BULL MARKET -- BREAKDOWN IN BOND YIELDS IS VOTE OF NO CONFIDENCE IN ECONOMY -- INVERSE FUNDS APPEAR TO BE FORMING BOTTOMS -- CHART REASONS WHY THE MARKET BOUNCE HAS PROBABLY ENDED
by John Murphy,
Chief Technical Analyst, StockCharts.com
SIGNS OF YEN BOTTOM THREATEN CARRY TRADE... In times of financial turmoil, we have to stand back and try to determine if major trend changes are taking place. That prevents us from losing our way with short-term market swings. I'm starting off today with a longer-range look at...
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TERRIBLE JOB NUMBER SINKS STOCKS -- THE OTHER SHOE MAY BE ABOUT TO DROP -- BOND YIELDS PLUNGE AS PRICES RISE -- FALLING DOLLAR KEEPS GOLD STRONG -- WORST GROUPS ARE BROKERS, HOMEBUILDERS, REITS, CHIPS, AND TRANSPORTS
by John Murphy,
Chief Technical Analyst, StockCharts.com
WEAK AUGUST JOBS REPORT IS A STUNNER ... Economists were expecting nonfarm payroll jobs to expand by 110,000 during August. Instead, jobs dropped by 4,000. That's the first monthly loss of jobs in four years. June and July job increases were also reduced. According to Bloomberg, not...
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GOLD CLOSES BACK OVER $700 AS PRECIOUS METAL STOCKS SURGE -- BARRICK GOLD HITS NEW RECORD -- VOLUME REMAINS LOW AS MARKET WAITS FOR FRIDAY JOB REPORT -- GOOD NEWS FAILS TO BOOST RETAIL STOCKS -- BIOTECHS CONTINUE TO GAIN GROUND
by John Murphy,
Chief Technical Analyst, StockCharts.com
GOLD SURGES ABOVE $700... There are a couple of reasons why gold may have staged a strong rally today. One is a weaker dollar. The dollar fell against most major currencies today. Another is rising energy prices. Gold often follows energy higher since both imply higher commodity inflation. Another factor...
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GOLD ETF BREAKS OUT TO THE UPSIDE -- GOLD STOCKS ARE FOLLOWING -- BARRICK HITS NEW RECORD -- NEWMONT HITS NEW SUMMER HIGH
by John Murphy,
Chief Technical Analyst, StockCharts.com
GOLD ETF HITS NEW 16-MONTH HIGH ... Earlier in the week I pointed out the the streetTracks Gold Trust (GLD) was nearing a test of its summer high. In today's strong trading, the GLD has not only exceeded its July high but its spring 2007 highs as well. That...
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RUSSELL 2000 SHOWS RELATIVE WEAKNESS -- FINANCE STILL LAGGING -- DOUBLE TOPS WORKING FOR XLF AND XLY -- WALMART AND KOHLS WEIGH ON RETAIL ETF -- SURGING OIL WEIGHS ON DOW TRANSPORTS -- COMPARING BIOTECH ETFS
by John Murphy,
Chief Technical Analyst, StockCharts.com
SMALL-CAPS AND FINANCE STILL LAGGING... Recent strength in the Nasdaq Composite and the Technology sector has been quite impressive over the last three weeks. However, this strength continues to be overshadowed by relative weakness in the Russell 2000 and the Finance sector. The Russell 2000 represents small-caps, which are the...
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