The market (XAO) was down 0.51% - volume was up a bit but still under the magical 1000 Million. That's the third day in a row. Outside the Xmas/NewYear period that is very very rare.
The first chart above shows the %change today in major indices and sub-indices. Today was a dog's breakfast, all over the show - with a bias to the down side. Some defensives weren't too bad, but Utilities was one of the worst performers.
Financials had a rush of blood yesterday - but they came back today.
Despite all that - there was some good news in the 50-Leaders. With the number of stocks above the 10-Day MA rising - while the market fell. That's a positive. But not enough.
Until the NetNewHighs/NewLows starts rising (see second chart above), I can't see any reason to buy this market.
Cheers
Red (or should that be Maroon?)
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