$DOW 30/ The stealth correction continued on Wedne
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Posted On: 05/04/2017 10:46:57 AM
$DOW 30/ The stealth correction continued on Wednesday. Once again large caps look just swell with the Dow even posting a modest gain. However, pain was once again levied on small and mid cap stocks down closer to -0.5%.
One day does not a stealth correction make. So, let's go back a week to when the S&P took its last shot to touch 2400. From that close on 4/26 here are the returns by market cap:
+0.01% for S&P 500 (large cap index)
-1.18% for Mid Caps (MDY)
-1.88% for Small Caps (IWM)
With the Fed giving a thumbs up to the economy Wednesday and ISM Services leaping to a very impressive 57.5, it says to me that this stealth correction shouldn't last much longer.
One day does not a stealth correction make. So, let's go back a week to when the S&P took its last shot to touch 2400. From that close on 4/26 here are the returns by market cap:
+0.01% for S&P 500 (large cap index)
-1.18% for Mid Caps (MDY)
-1.88% for Small Caps (IWM)
With the Fed giving a thumbs up to the economy Wednesday and ISM Services leaping to a very impressive 57.5, it says to me that this stealth correction shouldn't last much longer.
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