One thing we know for sure is that stock prices go up and stock prices go down.
Sometimes they go up mostly in unison, and other times most of them trade lower together.
In most cases, however, some stocks are rising while other stocks are not, and possibly even falling.
We call these “Normal” markets.
Check out last week’s Conference Call Video, Charts & Trades for all the details on how we’re playing it.
You can see here in the chart below, for example, that with the S&P500 closing at new all-time highs this week, the Consumer is just not getting the memo.
In fact, Consumer Discretionary just went out at new lows relative to the S&P500.
The underperformance has not stopped. It’s only gotten worse. [Read more…]