Early gains wiped out
The S&P opened up modestly and has been moving lower since. The index is now down about 18 points and trading at the lows for the day. This week the broad index is now in the red by -0.55% after being up above 1.35% at the peak. The Nasdaq composite index is down -0.47% today. For the week it too is down about -0.5% after being higher midweek.
Apple is the big name in the news this week and looks to close the week below the 200 week MA at 93.06 for the first time since 2009. Tough times for the old US bell weather.
On a more positive note, the new US bell weather AMZN and FB are making new highs for the week. So not all is bad..for now.
