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The Lead-Lag Report: October Correction Warning


Market internals have markedly deteriorated, as the odds increase for an October correction. Beware the message of the bear trade.


Small-Caps (NYSEARCA:SLY) – Broken

Comments: Small-caps appear to have broken their trend in the very near-term as money positioned defensively into the end of the third quarter. It appears money is beginning to favor more overseas investments rather than domestic beta in the here and now.

Technology (NYSEARCA:XLK) – Broken

Comments: Despite continued hype and excitement over Apple (NASDAQ:AAPL), the technology sector appears to be in the early stages of weakness as it rolls over relative to the S&P 500. The sector's strength appears very much broken in the near-term


Market internals have been deteriorating meaningfully in recent days. The odds of a correction appear to be increasing, but it is not clear just yet how severe a decline could be. Caution in the very near term likely remains warranted.

Twitter: @pensionpartners
No positions in stocks mentioned.

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