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Wednesday, November 16, 2011
Stuck in Neutral
It seems like markets have been on quite a roller coaster ride over the last few months, and as mentioned in a previous post, the average daily move of the S&P 500 over the last 90 days is the 4th highest it's been in 50 years. However, net-net, we really haven't gone much of anywhere in November. To illustrate the point are four relative strength charts for four different assets that don't show any sign of extreme--hovering right around the 50 mark. Which way we'll break is anyone's guess.
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