After more than a few days of day-after-day gains, the market gave back a little and fell by 20 basis points. The decline was largely a result of of the 40 basis point price decline in financials and technology shares. Ditto healthcare.
I am still of the belief that this rally is running on fumes, as volume continues to decline on every subsequent increase in daily value. The price/volume heat map has showed some mixed results (being relativistic in construction) over the last few trading sessions, but noting the weaknesses in some sector in the last few trading sessions. The one thing I can say about the heat for yesterday, nearly all sectors showed a neutral to negative supply/demand bias. That is aside from telecom shares, which despite ending the day flat on price, exhibited latent demand in shares.
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