Earlier we posted a couple of charts that had us a bit concerned.
A hedge fund manager writes in to say that THIS chart is what he’s really worried about:
This chart is far more worrisome – ratio of consumer staples to the S&P500 (check out the RSI measuring how oversold/under-bought staples are vs. the broader market at the top)…follow the little dotted lines downward to the black S&P 500 line…
The question is – is this more like the 2000/2007 tops or the temporary pause in 2004?
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