Why The Price Action In This Sector Signals The Market Is Likely Nearing A Short-Term Bottom
By The Independent Investor:Wow, the market has become volatile. With the S&P 500 and its tracking exchange traded ETF (SPY) selling off nearly 2.5% after the disappointing jobs report at the end of the week, the market sold-off hard from the high made on Tuesday.Market leaders such as Mastercard (MA), Apple (AAPL) and Baidu (BIDU) were hit hard as well.Market bears have now been emboldened by a rising dollar, increasingly poor jobs data, and continued issues with the PIIGS sovereign debt in the eurozone.Indeed, with the recent jobs report confirming what the Challenger and ADP reports have shown, economic growth in the U.S. seems to have slowed.The worst performing sector during the sell-off has been energy, with energy stocks selling off nearly 10% in the recent market decline despite consistently underperforming the market prior to the recent sell-off.Oil prices topped out in late February around $110 a barrel,Complete Story »
- Original article
- Login or register to post comments

