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.

Long Weekend
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.

DOW

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.

Airlines

Banks

Chemicals

Home Construction

Semiconductors

Steel

Transportation

This weakness follows the weakness we have been watching in Copper over the last few months.
Copper.

By the time the DOW rolls over, the rest of the market may already be on Sell Signals.

Keep you eys on the charts, and not the headlines.

All for now.

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