| Author | Message | ||
     Entrepreneur Kurra Bewarse Username: Entrepreneur Post Number: 3804 Registered: 05-2011 Rating: N/A |
The Russell 2000 and Nasdaq Composite had the biggest runs this week, jumping 5.2% and 4.7%, respectively, from Friday's closing levels. It's no coincidence that they are the biggest laggards today in a market that is succumbing to a belief that the market got overbought on a short-term basis. Selling efforts have been targeted at many of the biggest movers in this week's rally effort. The information technology sector (-1.0%) is a key drag on the broader market. The consumer discretionary sector (-1.4%), weighed down by a big loss in Tesla (TSLA 1011.40, -57.56, -5.4%), and the energy (-1.0%) sector, are the only other sectors to drop at least 1.0%. Today's pullback, though, doesn't connote any panicky behavior. A focal point of caution, however, is the CBOE Volatility Index. It is up 7.8% to 21.46 in front of tomorrow's CPI report. |