Is Market Breadth Beginning To Sour?
Via Dana Lyons' Tumblr,
Despite positive action in the major averages, market breadth has very recently begun to lag.
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Markit, ISM Paint Conflicting Pictures Of US Service Economy; Market Focuses On The More Bullish One
One again it was a "good cop, bad cop" combination of the Markit and ISM service surveys.
First, it was Markit, which printed at the just barely expansionary Final March print 51.3, up from the preliminary 51.0, but the internals continued to deteriorate. As the chart below shows, and as the commentary confirms, the US service sector is barely hanging on by a thread.
Some of the highlights:
About That Historic Q1 Market Rebound: 24 Of 26 Massive Snapback Rallies Occurred Within A Secular Bear Market
Dy Dana Lyons of My401kPro.com
Stocks Should Double In 3 Years (…Or Drop By A Third)
In our April 1st Chart Of The Day, we showed that the Dow Jones Industrial Average (DJIA) did something that it has only done 3 other times since 1900. After dropping over 10% during the quarter, it recovered to close the quarter positive.
Stocks Spike On "Good Jobs" As Crude Crashes
"Off the lows"...
So this just happened...
But it doesn't really matter when all it takes is a phone call...
Post-Payrolls, stocks faded until the US open, and then took off...
Stocks Entering Weakest Quarter Of The Presidential Cycle
Via Dana Lyons' Tumblr,
The 2nd quarter of election years has the worst average historical return of the 4-year Presidential Cycle.