SMH showing another 1% loss, currently down exactly that much. It's down about 10% MTD.
On the other hand, XLF is up about 1/2% today, and Staples (XLP) are continuing to do splendidly, both absolutely and relatively. However XLP and XLU are not classic "risk on" leadership...
Last edited by Daniel on Fri Oct 19, 2018 3:45 pm, edited 1 time in total.
typical reversal pattern so far, no time for bulls though.
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MrMiyagi wrote:HEARING GARTMAN IS OUT WITH BEARISH CALL ON FBN NEWS, SAID THIS IS "THE START OF A BEAR MARKET", SEES 10%-15% MORE DOWNSIDE
crap, really? the low is in or near then and will be brief in time now with Garty comments. that guy is scary bad, must be paid schill/important contrarian. of all the things...now i have to wait for him to flip bull again, that should be a real strong short.
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Daniel wrote:Nearly a 3% loss for the homebuilders (ITB) at the worst today. That is econo-alarming. Especially with $LUMBER hovering at 6month (+) lows.
On the other hand, JNK and HYG, while down from their highs last month, are both still comfortably above their (upslope) 200day MA. Hi Yield often leads as an indicator of coming econo-weakness.