The Wrap 9/10/12


Apple rolled over hard today. Keep in mind that the stock is 20% of the Nasdaq in terms of weighting (10% of the S&P), so the QQQ’s really didn’t stand a chance, as they traded down 1.3%.

The tape is still bullish and the bears are nowhere is sight for now.

Short term support for the S&P still remains around 1400, so keep an eye on that level this week.

Stocks that triggered today include: MCP, WTW, BBG, and PSMT

Have a great night and I will see you on the chat room in the morning.


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