The messy market for stocks continues. Sure, a few stock indexes in the United States have made new highs, but how many stocks in those indexes are doing that?
Not as many, that’s for sure, especially in small-caps and the Nasdaq, where we’re only seeing a fraction of stocks still making new highs.
Divergences persist….
This environment continues to remind me of a lot of the “Year 2” of market cycles that we’ve seen before. Take the initial thrust off the 2009 lows for example. Notice the sideways chop in Year 2 of that cycle: [Read more…]