DailyMarkets.com - Correction? Watch The Cyclicals! |
| Correction? Watch The Cyclicals! Posted: 09 Feb 2013 12:19 AM PST Regular readers know that I have been cautious on stocks lately. The market action last week is best characterized as volatile and sloppy. The new high achieved on SPY on Friday was accomplished on low volume and a non-confirmation on OBV, or On Balance Volume. At this point, any call for a correction is at best conjecture. I am watching the relative action of the cyclical stocks to see if a correction has truly begun. The chart below of the relative return of the Morgan Stanley Cyclical … [visit DailyMarkets.com to read more] or compare Credit Card Rewards or Best Credit Cards |
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