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Value Line "Average Stock" Not Losing Relative Strength to Blue Chips

|Includes: SPDR S&P 500 Trust ETF (SPY)

The relative strength of VLE, Value Line Arithmetic index, to SPX is holding up very well, see chart below.  I must admit I'm very surprised by this relative strength chart, which I've shown before, it's not what I expected to see when I updated it.  It seems to be saying that the "average" stock is still holding up quite well relative to the "blue chip" SPX.  VLE has gone down with SPX during the correction, put at the same rate, holding VLE's relative strength up near its high.  Again, I'm surprised, and when I'm surprised, I try to be extra careful to keep an open mind.  The price data in the chart is through Fri's close.

Left click on chart to enlarge.