Money moved into gold and Treasuries, against anticipated higher US rates due to the QE unwind and the generally bearish Fed policy.
The NQ100 was weaker for the whole day.
However, we can see below that AAPL, but also big tech stocks such as MSFT, FB, GOOGL and AMZN, attracted money at the end of the day. This tends to point to a QQQ reversal today.
The NQ8 itself was not much weaker, while the small caps weakened.
The small caps continued outperforming and are close to the top of the envelope.
Index investors continued buying SPY and QQQ.
Energy continued to be strong.
Conclusions:
I believe that the QQQ will bounce today, that Treasuries and gold will be sold.
