Just a quick follow up to last week's "Curb Your Enthusiasm" post.
Days like these can be dangerous for unsuspecting investors... As, per the below, those who only see the headline prints on the US major averages could be thinking all's well and we're back in business.
As I type, the Dow's up 191 points, the S&P 500 is up 1% and the Nasdaq's up 1.6%... What's not to like?
Well, believe it or not, 17 of the Dow 30 stocks are actually in the red, just over half (258) of the S&P 500 members are down as well, and nearly half of the Nasdaq Comp are bleeding too.
As for sectors, healthcare's getting hammered to the tune of -2.3%, consumer staples are off 0.84%, materials down 0.31%, financials flat, yada yada.
Bottom line, tracking market breadth is important, as it gives us a feel for the overall health of the market, and/or the quality of a given rally.
Stay tuned...
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