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Thursday, March 21, 2013

Tech Flu

One has to wonder why Technology is lagging so badly this year, as shown on the Weekly line chart below of the YM, ES, NQ & TF. It was clearly the outperformer last year as it led markets higher.

Perhaps consumers have had their fill of a regurgitation of the 'same-old stuff in a slightly different package' and the economy is already saturated with tech gadgets.

In any event, it's an important part of the economy that is clearly under performing. This may be a warning that, apart from the improving housing sector, all is not well this year.


***NOTE: Inasmuch as there seems to be problem with Blogger today when you click on my charts to enlarge them, here is a link to view this chart properly: http://screencast.com/t/bTPIBvIlp