Stocks: A Top And A Turning Point

Look at the housing stocks. Thats about the worst looking sector out there, although this (last) week the technology sector got clobbered. So, to me you are seeing a turning point in the market. All this volatility is likely indicative of a top in the market and a turning point.

Related trading instruments: SPDR S&P Homebuilders (ETF) (XHB), Lennar Corporation (LEN), KB Home (NYSE:KBH), Facebook (FB), Twitter (TWTR), Netflix (NFLX), Tesla Motors (TSLA), SPDR S&P 500 Index ETF (SPY)

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Stock Market: Economically Sensitive Indexes Are The Weakest

Everybody is talking about the U.S. recovery, yet the economically sensitive indexes are the weakest. And of course, these deal directly with the domestic economy. You don`t have the multinationals in the Russell 2000, that you have in the Dow Jones.

And if all this story about how there is weakness overseas, but America is an island of strength in a sea of recession, if that really were true why are the indexes that are most tied to the U.S. Economy the weakest?

Related trading instruments: SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), FedEx Corporation (FDX), Delta Air Lines (DAL), Union Pacific Corporation (UNP)

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.