8/12/2010
Big Picture Analysis: The equities indexes plowed through many support levels yesterday and overnight, which is probably the death knell for the rally. In retrospect, the signs of institutional participation and high breadth were probably a result of record high correlation in the stock universe. Going forward, I will tend to discount such information until the correlation lowers to normal levels.
http://www.zerohedge.com/article/lack-stock-dispersion-hits-all-time-record-most-stocks-now-trade-one
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