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CSCO Report After Close May Clarify QQQQ "Sell on News" Trend

|Includes: ACWI, Cisco Systems, Inc. (CSCO), QQQ, XLK

Will be keeping a very close eye on QQQQ, XLK today, which have underperformed during the 2-day snapback rally.  So far "better than expected" 4Q tech earnings have been met with "sell the news."  How market reacts to CSCO's Chambers conference call today will be the next good clue for this key sector.  This chart shows the loss of global relative strength since the beginning of 2010 of XLK, tech sector etf, to ACWI, MSCI All Country World Index, my real-time proxy for global equities.

Left click on chart to enlarge.