From the desk of Steve Strazza @Sstrazza
In recent weeks, we’ve witnessed a powerful rotation as many of the secular laggards have assumed short-term leadership positions.
In today’s post, we’re going to take a stab at using a new visualization tool in order to illustrate this recent changing of the guard.
This scatter plot is comparing the maximum drawdown from 52-week highs to the March lows (Y-Axis) with the short-term performance off of the May 13th low, among all of the 150+ Dow Jones Industry Indexes. The plot-sizes are based on how large the current drawdown is… In other words, the bigger the dot, the bigger the drop.