The Nasdaq-100 is rebalancing at the open on Monday and that is causing some wild movement in key components like Apple and Google. The indices went straight up all week notching 7-8 days of winning streaks. Higher crude oil, weak U.S. dollar and mediocre economic reports were compensated by plenty of good earnings reports. Upside momentum continues to be strong and any weakness will likely be snapped up with beginning of the month seasonality. Â
On a side note, my friend in the electronic component business says his company is forecasting a very busy June.
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