When defensive stocks lead the wider stock market higher while energy stocks sink, you know the engines of the major indexes are running on borrowed time, and soon the hope will fade.
Walmart screams higher out of a base. You can clearly see WMT and XLP step up to higher prices. This is sector rotation out of SPDR sectors like XLE and XLB which are currently sinking.
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Plus the SP500 stocks over 200 SMA are showing deep trouble within the SP500. One is wrong, the leading index or the percentage of stocks over 200 SMA oscilator.
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Investing Quote…
..“It is foolhardy to make a second trade, if your first trade shows you a loss. Never average losses. Let this thought be written indelibly upon your mind.”..
Jesse Livermore
..”The stock market is filled with individuals who know the price of everything, but the value of nothing”..
Philip Fisher
