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(10/24/15)
Currently the market is very fragmented and being led higher by
a few select names. This can clearly be seen in different indices.
For example the NYSE Comp and Russell 2000 remain well off their all time highs.
Meanwhile the S&P 500 is only 2.8% off its all time high and
has rallied 10.8% in just 4 weeks. In addition if we look at the S&P
500 that is Equally Weighted notice it's still well below its all time high.
Next the % of stocks above their 200 Day Moving Average is at
39% so this gives another indication that the market is very fragmented.
Finally the VIX which rose to the lower 50's in late August has
dropped all the way back to the 13 level on Friday. In the past the 12
level has signaled nearing tops so the question is how much further upside is
left in the major averages.
Amateur Investors
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