Tuesday, April 24, 2012

Big Divergence Between Tech And Other Indices

The morning gave us a nearly flat start, but half an hour into the session, price suddenly shot higher in a matter of minutes. But only to stall and trade sideways for a couple of hours. Volume was lacking and soon indices started to trend down. Except for tech, the morning low held for the major indices. And with 90 minutes to go, price finally bounced.

Nasdaq was weak, very weak compared to other indices. AAPL probably had something to do with that. The most watched stock was down >3% intraday, heading into earnings.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro was up a little bit, just like oil. Metals were a mixed bag; silver down small, gold up small, copper up >1%.

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