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David Fry
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David Fry writes a subscription newsletter focused on technical analysis of exchange-traded funds, called ETF Digest (www.etfdigest.com). Dave founded the ETF Digest in 2001 and was among the very first to see the need for a publication that provided individual investors with information and... More
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  • MARKETS TAKE SEPARATE PATHS 0 comments
    Apr 16, 2012 7:22 PM | about stocks: SPY, IWM, QQQ, AAPL, XLK, DD, XLB, XLY, XRT, C, XLF, IYR, ITB, IEF, TLT, UUP, FXE, GLD, GDX, SLV, JJC, DBC, USO, UGA, XLE, EFA, EEM, EWJ, EWY, EWG, EWP, EWZ, RSX, EPI, FXI

    openingimage

    The more conservative price-weighted Dow Jones Industrial Average (NYSEARCA:DIA) rallied led mostly by higher priced constituents (IBM, CAT, MMM, KO, DD and etc.) Tech and the S&P took a different path with the former led lower by Apple and the latter with just about everything else.

    The early Retail Sales report (.8% vs .3% consensus & 1% previous) was well-received early as even ex-auto & gasoline sales data was fine. However, the Empire State Mfg Survey (6.7 vs 18 consensus & 20.21 previous was a large negative miss. That was followed quickly by Home Market Index (25 vs 29 consensus & prior 28) which was another disappointment. Apple (NASDAQ:AAPL) continues to see selling for the fifth straight day as downside momentum builds. This added to the negative sentiment.

    <READ MORE>

    Stocks: SPY, IWM, QQQ, AAPL, XLK, DD, XLB, XLY, XRT, C, XLF, IYR, ITB, IEF, TLT, UUP, FXE, GLD, GDX, SLV, JJC, DBC, USO, UGA, XLE, EFA, EEM, EWJ, EWY, EWG, EWP, EWZ, RSX, EPI, FXI
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