Rally Breadth Narrowing
The RUT:INDU Ratio chart shows that internal breadth has narrowed dramatically in the last two weeks of earnings season. The rally is being supported by a few big cap names (represented by the 30 DOW stocks in INDU) while interest in the broad market (represented by the 2000 stocks in the Russell 2000 Small Cap Index) has declined sharply. This is a dramatic contrast with earlier stages of the rally. Caution is warranted.
Comment
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Comment by BullBearGirl on October 22, 2009 at 1:12pm
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Thanks Steven.
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