Charts To Watch - Published Wednesday, April 3, 2013 Last Update: 7:10 AM ET
No Videos today. I lost my voice
to a cold.
Major Market Divergence
Last week I was expecting a bullish bias in the market.
End of Month
End of Quarter
Over the next few days I would expect see that Bullish Bias to start to dissipate, and the
markets to roll over.
You may have heard that the Dow Jones Industrial Average closed at another record high on Tuesday, for the eleventh
time in the last twenty trading sessions.
But, did you also hear that 2 indexes that I watch daily, the Russell 2000 and the Zacks Micro
Cap Index closed down 2 days in a row?
I doubt it.
Is the market that healthy when 30 DOW stocks move up, while 2500 Mid/Small/Micro
Cap stocks fall.
If this continues, one could assume that he market is moving form a state of Risk On, to a
state of Risk Off.
Risk Off is never fun.
You know, dividends, yields, safety.
While we wait for this to unfold, many of the key sector benchmarks have already started to
break down outside the glare of the media spotlight.
This weakness follows the weakness we have been watching in Copper over the last few
By the time the DOW rolls over, the rest of the market may already be on Sell
Keep you eys on the charts, and not the headlines.
All for now.
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