AI
Monday, June 12, 2017 12:56:54 PM
Current Nasdaq correction,
Confined mostly to the following technology sectors:
Electronic Hardware
Software
Internet Services
That's all electronic stuff. And a tiny amount in biomed, represented by AMGN.
Biomed stocks have been in a 50% correction for almost 18 months. So (maybe) the electronic/internet-related investors are licking their chops at the biomed and health stocks, and toward that goal they are selling the electronic stocks to raise cash for that purpose.
Considering the current correction is confined mostly to Nasdaq companies (which have had profits they deserve) the market could easily trend within yet another horizontal channel until earnings start coming in during late July.
In other words, normal consolidation. Can't go up all the time.
Confined mostly to the following technology sectors:
Electronic Hardware
Software
Internet Services
That's all electronic stuff. And a tiny amount in biomed, represented by AMGN.
Biomed stocks have been in a 50% correction for almost 18 months. So (maybe) the electronic/internet-related investors are licking their chops at the biomed and health stocks, and toward that goal they are selling the electronic stocks to raise cash for that purpose.
Considering the current correction is confined mostly to Nasdaq companies (which have had profits they deserve) the market could easily trend within yet another horizontal channel until earnings start coming in during late July.
In other words, normal consolidation. Can't go up all the time.
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