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No rotation today, just selling

No rotation today, just selling

Technology stocks, especially big technology stocks, led the markets lower today with the NASDAQ 100 down 1.30%. But no sector stepped forward to say “Give me the cash.” The consumer discretionary and consumer staples Select Sector SPDRS, XLY and XLP...
Key stocks close at 50-day moving average–again

Key stocks close at 50-day moving average–again

Hmmm. Last time a declining technology sector bounced hard, it staged that recovery after hitting the 50-day moving average. Well, guess what? It’s back. For example, Apple (AAPL), a critical bellwether stock in the sector closed today, September 17, at $110.34....
No rotation today, just selling

Big tech takes back its gains from yesterday

The Standard & Poor’s 500 was down 1.76% and the NASDAQ Composite fell 1.99% today. But the worst damage was among the big tech names that had led the rally higher and that had bounced yesterday. Microsoft (MSFT) was down 2.80%. Amazon (AMZN) gave up 2.86%....
Stocks take a while but deliver expected bounce today

Tech bounces off 50-day moving average

They’re back. Tech stocks were back big this morning as the NASDAQ bounced off of its 50-day moving average. As of noon New York time, the Standard & Poor’s 500 was up 2.16% and the NASDAQ Composite was ahead 2.69%. The Technology Select Sector SPDR...
NASDAQ 100 moves into correction

NASDAQ 100 moves into correction

Traders who bought on the dip at the end of last week were a bit early, the market is saying today. As of noon New York time, the Standard & Poor’s 500 was down 1.91%; the Dow Jones Industrial Average was off 1.56%, and the NASDAQ Composite was lower by a...