Friday, December 7, 2012

AAPL, Not So Loved Anymore, Leads Tech Lower

With better than expected numbers for non-farm payrolls, futures got wings. But then they started to give back gains and continued to do so in the beginning of the session. The Dow and S&P500 bounced back up (Dow even made new highs at the end of the session), but tech and small caps didn't do much after falling back. Tech had another day of lagging the other indices, again thanks to AAPL.

The daily charts of most major indices have a bullish look to it, but tech isn't confirming at the moment...

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro and oil lost a bit more after yesterday's losses, but metals bounced (also only little).

Have a great weekend!

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