Russell outperforms in ugly session
The Market:
Another 1+% down day across the major indices on the WSC Scoreboard except for the Russell 2000 (IWM) which finished the session down only 0.42%. YTD the IWM is still the clear loser down 9.55% but today’s outperformance is interesting and something to watch. IWM’s underperformance starting earlier in the year was a warning so if it begins to outperform on a consistent basis going forward it should be noted.
It does not feel like very long ago when the only down sector on the WSC Scoreboard Was Retail (XRT) but now we have 5 and all 5 are well into the red. The leader YTD is a sector that has been outperforming this entire recent decline and that is the Utilities (XLU).
Today was a banking holiday so there were no Economic data reports and tomorrow, Tuesday, is small but then we ramp up into Friday.
Reporting EPS 10/14/14 Pre-Market: