Thursday, October 18, 2012

Google Ruining The Party For Tech

Google (GOOG) was of big influence today. Indices were making small gains when Google announced earnings (which supposed to take place after hours...). The results weren't nice at all and the stock lost 10-11%, making tech fall hard (1.2% while the Dow and S&P500 barely were in the red).

Indices crawled their way back up into the close, except for Nasdaq. With GOOG down a lot (closing -8%) and Apple losing almost 2%, no love for tech today.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
Metals were down with the market, just like the euro. But oil performed odd. It fell when the market traded higher, but reversed and consolidated when everything started to fall on GOOG earnings.

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