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The Lead-Lag Report: Markets Hesitate

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Market internals appear to be hesitating following bullish behavior post QE3. More time is needed, but for the first time in several months signs of deterioration are occurring.

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Bonds (NYSEARCA:IEF) – Bounce?


Comments: The bond/stock ratio has hit its support. The next few weeks are crucial to see if a reversal in trend is at hand, but I suspect a breakdown past support remains the more likely action.

Conclusion

Market internals seem to be reversing the bullishness expressed in the days following QE3 as hesitation takes place over what happens now. Should this be short-lived, a Fall Catalyst could take place, whereby the Dow (INDEXDJX:.DJI) makes new all-time highs in the coming months, bringing retail investors with it. The next few weeks are crucial.

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No positions in stocks mentioned.

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