A change in sentiment? This week saw interesting rotation in the markets.
--Beaten up financials were looking for a bottom, with the largest ones up for the week.
--Retailers showed no signs of bottoming, most of the large ones at 52-week lows.
--Ditto for restaurants.
--Market leaders like consumer & energy stocks looked weak.
--Drugs are the new leaders.
For the week, Dow down 1.5 percent, S&P down 0.7 percent, NASDAQ down 2.4 percent.
As I mentioned before, I know everyone wants to hear from financials next week, but the more important comments will come on the global economy from our parent General Electric , as well as Intel and IBM .
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