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There's some green on the screen about 90 minutes before the bell with the Dow (DIA, DOG) nosing...

There's some green on the screen about 90 minutes before the bell with the Dow (DIA, DOG) nosing into positive territory and the S&P 500 and Nasdaq now lower by only a hair. Today's weakest sector is the utilities (XLU -1.1%), continuing a bad month that's seen the once-leading group underperform the S&P by nearly 1000 basis points. YTD, the S&P's now ahead of utilities by about 500 bps.
Comments (2)
  • Just about the time one would expect profit-taking in utilities, the fear of "easing of easing" has reduced the value of yield in the group, and we have double-barreled nehative pressure going. Some of this undoubtedly hitting telecomm and other areas that have been bid up for yield.
    24 May 2013, 02:31 PM Reply Like
  • Major topping action forecasted for next few months, a market that has been this strong will take time to digest. A bearish summer is still a possibility. Sell in May and go away? Maybe!:
    http://bit.ly/WpVqYk
    24 May 2013, 02:39 PM Reply Like
DJIA (DIA) S&P 500 (SPY)