As the bulls and bears fight it out this morning, I wanted to share with you two simple charts that I think are worth noting. First is the S&P 100 ETF symbol OEX. Please note the yellow tints (as if you’d miss them):
I’d also like you to see a different animal, the small caps, and the analogous tints I’ve drawn on this one. Indeed, recent activity is more consistently “lower highs, lower lows” than last year’s.