Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
Been an interesting market of late with a wide array of divergences but none of them hitting price on the Dow or S&P 500. Small caps continue to struggle – yesterday they were crunched while we had moderate losses in the other indexes (and the DJIA was barely down). Much like most sessions last week the Russell 2000 is barely up while the Dow and S&P continue their very slow melt up.
It’s all about defensives as healthcare goes parabolic…
Meanwhile beer, smokes, et al continue to get a bid.
… and global growth stocks get hit.
Commodities ex oil are in free fall…
Bonds are not selling off hard during the rallies…
Usually this strange cocktail would not be good for the market but it’s not mattered for the big caps at least.
Disclosure Notice
Any securities mentioned on this page are not held by the author in his personal portfolio. Securities mentioned may or may not be held by the author in the mutual fund he manages, the Paladin Long Short Fund (PALFX). For a list of the aforementioned fund’s holdings at the end of the prior quarter, visit the Paladin Funds website at http://www.paladinfunds.com/holdings/blog
