Are You Better Off Than a Month Ago?

Derek Hernquist

I love snapshots. We are so used to watching market events unfold play-by-play, that we sometimes forget where we started. Noticing the dramatic deterioration of breadth over the past couple of weeks, I thought I'd display a quick snapshot of some numbers from exactly 4 weeks ago. This was the day before AA kicked off that wonderful earnings season we are now completing. How has the market reacted to all that good news?

derek_revised

Done laughing at my crude graphics? Sorry, the Western NYer in me still longs for Tim Russert's whiteboard moment. Consider running your favorites through this little test. The index is where it was a month ago, but we have a great chance to take a look and see who made it through in stronger shape than when it entered.

Laugh at technical analysis if you will, but it's a lot easier to hold the S&P together than it is to make this many stocks lose their mojo. This isn't a minor technical divergence...it's a loud scream by the broader market that it's made up its mind about the direction of the next market leg.


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