We first mentioned the possible correlation in "SunPower Soars 27% on Q2 Beat; Upgrades Galore (SPWRA)":
Reiterated August 11 in "Solar Stocks Getting Crushed: JASO; LDK; SOLF; SOLR; STP;TSL; YGE":
This could be bad news for the overall market. As we posted on July 24:
Through all the ups and downs over the last year I have the impression that the solars have led the general market in the magnitude of the moves and possibly been an indicator. This is a subjective observation, I haven't gone back to check the numbers but I do have a fairly good memory.The Nasdaq list of leading decliners has five solars in the twenty worst (via the WSJ's Markets Data Center)...
[which explains all the self-reverential links? -ed]
Here's the chart of the Claymore/MAC Global Solar Energy ETF vs. the S&P 500 via Yahoo Finance: