Tale Of The Tape

Fighting out the red corner former champions $NFLX $CMG $AMZN $TSLA $PCLN $FB $XBI $QQQ, professional record; down 11% as a group since March .

Weighing out the blue corner the new leaders $DIA $MSFT $CSCO $JNJ $PG $IBM, professional record; up 3.1% since March.



Some view this as plain simple rotation, and that might be the case.  However for the 1st time in a long time we are actually seeing follow through selling on the growth names.  In the past we saw initial selling and then they just went on to new highs, but recently they have sold off, bounced a little and were met with even more selling.  I for one have never been a big fan of a market that’s led by the old stogies because normally that does not last to long and eventually they will come under pressure as well with the overall market.

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