In some preliminary poking around, what I found to be interesting is this is the 3rd day the market has underperformed the Euro. In the last month and a half, the market has gone up tick for tick with the Euro and when the Euro went down, largely ignored it. Now we are seeing almost the opposite behavior, I pointed it out the last two days and today as well.
Euro is in orange, SPX in Green...
Also of note is the NASDAQ 100 which has been far and away the leader, is underperforming the other averages on a relative basis and a couple on a percentage basis. Tech also happens to be one of the Industry groups that look the weakest in rotation on the day-something that started yesterday.
Q's vs the Dow-30 (Q's are in green)
Q's vs the IWM, huge underperformance here...
Q's vs SPY
The Q's on a percentage and relative basis are even under-performing Treasuries!
QQQ v TLT
The one clear standout going out of rotation is tech in light blue... XLK is nearly unchanged on the day at +.04%
The Q's on a short and longer term basis look a lot like Technology...
Technology short term (2 min)
QQQ short term (2 min)
Tech on a 15 min
QQQ on a 15 min
It's probably time to take a closer look at AAPL
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