For the most part, market leaders either got pounded or closed near session lows on Friday. Fading leadership generally does not bode well for the broad market.
This week we turn from the crisis brewing in the US to the one that is coming to a slow boil in Europe. We visit our old friends Greece and Ireland and ponder how this will end.
China has the biggest, newest, most daring and innovative buildings. It has the fastest trains, the most roads and cars. The richest. The poorest. It has everything.
The market has moved to new highs while many market leaders have failed to do the same. Further, the rally has occurred in the absence of broad-based participation. These are often early signs that the market may be weakening.
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