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Wednesday, January 19, 2011

The Dow's Relative Strength

Whether or not you subscribe to the view that the Dow has become increasingly irrelevant as an overall gauge of market health and direction, it's worth noting that the least sexy of the major averages has barely flinched during today's pull-back, even while the more sensitive $RUT has been down as much as two percent intraday. IBM's earnings-pop is certainly a big factor, but many of the other components are holding up nicely as well. Take a look, take some notes, and make of it what you will.


Dow components: AA, AXP, BA, BAC, CAT, CSCO, CVX, DD, DIS, GE, HD, HPQ, IBM, INTC, JNJ, JPM, KO, KFT, MCD, MMM, MRK, MSFT, PFE, PG, T, TRV, UTX, VZ, WMT, XOM

Trade well.

-- Brinkley
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