This weekend, we told you something was up with big cap tech/internet and all that stuff. Some of the major players were acting suspicious. Suspicious just turned into some serious selling, at least for those favored/glamour areas. As we write this:
The NDX easily sliced through the 50 day average that we outlined for you at 5911…and now the NASDAQ has sliced through at 6361.
Names like FB also easily sliced through the 50 day/support…amongst others.
The complexion be changing ladies and gents.
Money flows into Gold (GLD) which bounces right off the 50 day/support. Money continues to flow into OILS as energy prices continue higher. Besides that, mostly yuck! More on this tonight.