The technology stocks led the market higher last week even though most of the major averages sagged into the close last Friday. The S&P futures showed a loss of short-term momentum in weekend trading and have declined further early Tuesday. The EuroZone markets are also lower in early trading with the Dax showing a 0.70% loss.
As I noted in Friday’s Week Ahead column, the S&P 500 and S&P 1500 Advance/Decline lines both made new highs on Monday, May 18, before turning lower late in the week. The A/D lines have been acting stronger than prices and this is a bullish sign for the markets.
Apple, Inc. (AAPL) stock surged to a new high in late April, confirming the positive signs from the technical studies Time to Buy Apple Again? The stock quickly reversed to the downside as it dropped down to good support before last week’s 2.9% gain.
So, what do the technical studies say about the tech sector and Apple stock as we head into the summer months?
Vía Forbes Real Time http://onforb.es/1IYJHM4