Here’s one more from Brett Steenbarger:
Divergences Continue in the Stock Market
Excerpt: "Hats off once again to the Decision Point site for their excellent coverage of indexes and indicators. While the woes of financial firms and the health of the financial system have dominated media headlines, we’ve been making fresh annual lows in the S&P 500 large cap index (top chart, top pane). Interestingly, the advance-decline line specific to the S&P 500 stocks (top chart, bottom pane) remains above its July lows, suggesting that a large share of the index’s weakness is attributable to a relatively small subset of stocks and sectors…
…I continue to observe that the market is not as unhealthy as the headlines would lead us to believe.. Like I said in my recent post, I’m trading like a bear, but watching for investment opportunities like a bull." Full article here.
