The market breadth has been very poor lately. Friday as an example when the market was up, the advancing issues were about 1,000 stocks up and 2,000 declining. So for every stock up there are two stocks down, yet the market is up. How does that happen? It happens by getting a small number of stocks that continue to have significant gains, as the majority of the market falls. This is particularly frustrating for those of us that use the index ETFs to hedge the market risk.

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Market in a Minute 2015-7-21