Market breadth – this bounce is thin
Posted on 01 June 2011
And still market breadth continues to undermine the index. Each rally is being supported by fewer leaders – perhaps this is the impact of earnings expectations being ratcheted lower? In any event, unless the downtrend in the NYSI is broken – which would signal a resurgence in demand for stocks across the width of the market – the balance of probabilities has the S&P500 at least retesting the low for the year.
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