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Sloppy Market? Blame the Financials
Posted By Barry Ritholtz On May 17, 2011 @ 11:30 am In Economy,Markets,Technical Analysis | Comments Disabled
Master technician John Roque of WJB Capital put out a fascinating chart this week, looking at what a drag the financial sector has been on the overall market. John also notes how poorly Goldman Sachs is trading; only AIG (-37% ytd) and HCBK (-27% ytd) have worse year-to-date performance among S&P financials.
If you could magically back out the financials, the market would be at an all time high:
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