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Five day rolling number lines continue to look awful. Here are the exceptions: OIH +6 USO +5 That's it. LOL.
ain't that the truth... I thought they had a chance at bouncing off the weekly A down, (just a trick to lure me in...)
Let me add a thought here. For those wondering why the market is not tanking with such negative number lines, it helps to add some perspective. AAPL makes up 4% of the S&P 500 and 16% of the Nasdaq 100. Energy stocks make up about 20% of the S&P 500. Between AAPL and Energy, that's 25% of the index that is still holding a strong bid because of oil. That's why the market is not in free fall. To gain a better understanding of this, the Russell 2k which has no such weighting issues has a -6 on the rolling 5 day number line and is no where near the April highs from 2011 showing the real weakness in the market. Just some food for thought. To further clarify, over the last 5 sessions, the Russell 2k has made 4 A downs.
Great post, and many thanks for putting everything in context. So basically we "are" in free fall, except for the 25% of the market that "isn't" Much Appreciated!