This month marks the one year anniversary of the top in stocks.
And more specifically, I mean the top in the internals of the U.S. Stock Market. Remember, that’s the best things were, and it’s been a painful deterioration ever since, particularly for most U.S. Index Fund investors, growth investors and most individual U.S. stock pickers.
The new highs list these days is loaded up with ADRs, Metals stocks, Staples and Energy. Most of the other stocks have been struggling. Not all of them are down, but many are sideways at best.
This chart really tells the story of what’s been going on. We discussed it on Tuesday night’s call: [Read more…]