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.
Oct 13, 2014
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.
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.
Stock Market: The Worst Week In Years
It was the worst week in the stock market in years. The Dow Transportation Index, it had the biggest decline in over 3 years, down 6.9 percent. And that`s despite Crude Oil down 4.6%. That`s the worst week in about p months and over the last 2 weeks crude oil is down 8.5 percent.
The nasdaq was down 4.4% on the week. The worst week in 30 months. And the Russell 2000 which is an even broader measure, which has been weaker, was down 4.6% on the week.
The Dow Jones is now flat on the year, maybe slightly negative, but the Nasdaq is down, the Russell 2000 is down. In fact the Russell 200o index has the worst chart of them all.
It`s interesting that the most economically sensitive measures, which are the transports and the Russell are the weakest.
Related stocks and ETFs: SPDR Dow Jones Industrial Average ETF (DIA), SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), Delta Air Lines, Inc. (DAL), FedEx Corporation (FDX), 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.
The nasdaq was down 4.4% on the week. The worst week in 30 months. And the Russell 2000 which is an even broader measure, which has been weaker, was down 4.6% on the week.
The Dow Jones is now flat on the year, maybe slightly negative, but the Nasdaq is down, the Russell 2000 is down. In fact the Russell 200o index has the worst chart of them all.
It`s interesting that the most economically sensitive measures, which are the transports and the Russell are the weakest.
Related stocks and ETFs: SPDR Dow Jones Industrial Average ETF (DIA), SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), Delta Air Lines, Inc. (DAL), FedEx Corporation (FDX), 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.
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