Anatomy Of A Market Top, Part 1: Internal Combustion

Saturday, September 5, 2015
By Paul Martin

by Tyler Durden
ZeroHedge.com
09/05/2015

The first change often occurs below the surface. The deterioration of the market’s internals typically occurs in the lead-up and development of a cyclical market top, but this dynamic too can persist for an extended period. However, eventually these divergences reach a head, and the most egregious cases have historically occurred within close proximity to major, cyclical market tops. The deterioration of the broader market is so great that the resultant foundation of support below the surface of the popular market cap-weighted averages is nearly non-existent. >Once the relatively few leaders propping up the market begin to collapse under the weight, the inevitable cyclical decline can commence.

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