The three amigos of tech are being sold after some solid earnings. Earning expectation probably gotten too high as IBM had rallied 6 weeks into earning. Technically VMW was already in trouble from early October and will likely hurt the cloud computing group tomorrow. AAPL and its suppliers are trading down after hours as well. The financials had a nice bounce on the back of a solid C earning report. We will know if the bounce in financials is of the dead cat variety when GS and BAC reports tomorrow morning. I do note that the McClellan Summation index is on the verge of rolling over if the bears can give us a decent sell off into the closing bell. Could this be the start of a 1-3 week correction that many are looking for?
Related posts:
