Financial stocks are leading the decline with JPMorgan Chase & Co. (NYSE:JPM) trading at $42.03, -1.21 (-2.80%). The banks have been the weakest of late and it is not surprising to see them dropping further today in a down market. The strongest stocks can be found in the technology sector with Apple Inc. (NASDAQ:AAPL) and Google Inc. (NASDAQ:GOOG) both positive on the day. Click here for a free trial that will change your life forever.
The markets are near an inflection point. While still trading near their 52 week highs, there seems to be a realization starting that the recovery will not go on forever and things will not return to their 2007 levels. Ultimately there is far more downside in the markets than up and it appears the institutions are starting to unload over the last few weeks. Play this market on the safe side. Cash may be king for a while as the Dollar has made a bottom in the short term. To get the next cycle date in the markets, take the seven day free trial to the Research Center.
Chief Market Strategist
RealTick® graphics used with permission of RealTick LLC.