Retail Sales Confusion Contributes to Lower Start for Week (ETF: QQQQ)

Nov.29.05 | About: PowerShares QQQ (QQQ)

Not a good start to the week that’s for sure. There’s some confusion over retail sales as some reports were strong (sales rise 22% from previous Thanksgiving weekend) while there was also some weakness noted (dollar volume was down slightly). The bottom line with the market priced to perfection, any inkling of bad news is enough to drive prices lower.

The NASDAQ, which was the most overbought, also fell the most yesterday:



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