Wednesday, February 4, 2009

As goes the piggies so goes the poke

Per Jason Goepfert on Sentimentrader as reported on Minyanville 'Buzz and Banter':

Yesterday was the first time in the 20-year history of the S&P Banks Index that that index dropped more than -5% on the same day that the S&P 500 rose more than +1%.

Once it dropped by more than -3% and three other times the Banks Index dropped -2% where the S&P 500, on the same day repsectively rose more than +1%. None of these events were good for the broader market over the following month...

No comments: