Last summer, when it looked like the market was rolling over in the wake of the flash crash, I was watching the Four Horsemen of the Market – XLK, XLF, XHB and RTH – tech, financials, homies and retail. If they broke down the market would go with them.
As you know, nothing broke down and we are 30% higher. Today’s Barron’s Online column was about the market’s pattern and it featured two of the four horsemen – retail and tech. Here are the other two:
Still in a rising channel but on-balance volume is not keeping up.
Holding support but on-balance volume is worse.
