This stock market (DOW/TRAN/SPX/SOX/RUT/NYA) wants to rally, but the techies want no part of it. And, whenever the cash market gets something going, the NDX/NQ is there to pull the rug out from under everybody Any ideas? Been watching this routine for weeks now... tony
Thanks for asking around Tony because this is puzzling. The AMEX COMPUTER TECHNOLOGY INDEX (XCI) bottomed two days ago while general indices bottomed the next day only (yesterday). The techies had been pulling the whole set of indices down until they showed strength two days ago and took the lead. But then, as early as this morning, they went back into their old routine of bringing other markets down. By 3 o'clock it was clear that tech indices couldn't keep up with the general indices attempts to rebound.
Yes noticed the same thing. It's been a constant routine for weeks now. Thought somebody might have some ideas