Amazon (AMZN) spends more money than it makes, and it makes a lot of money, but how long does the “investing for growth” strategy go on?
The S&P 500 index finished the week unchanged but the VIX was up over 5%, the divergence sending a bit of a mixed signal. The Russell 2000 still looks weak and the DOW closed on the support line of a six month rising triangle pattern. I’ll be looking at the major averages in more detail… Read More »
The Irrelevant Investor takes a look back at the divergence in the Russell 2000 index earlier in the year, and the resiliency of the broader market. Unfortunately, the Russell has diverged again, retracing about half of its March/May decline. Hopefully, it doesn’t revisit those previous lows and the rest of the indices do not have… Read More »
Earlier in the week, I noted that several of the Europe iShares had reached secondary areas of support after breaking previous support levels at the beginning of the month. Yesterday, they initially continued to bounce but then reversed and closed near their lows. It is early in any basing process for these funds but this… Read More »
Shares of QUALCOMM (QCOM) are down about 4.5% in the post-session after the company reported earnings. Earlier this week, the stock price broke above the top end of a channel consolidation it had been trading in since the beginning of May, but reaction to the earnings announcement has taken it back down to the support… Read More »
The semiconductor sector performed poorly today with the Market Vectors Semiconductor (SMH) fund down over 2% in the session. It has been moving in sideways consolidation since the beginning of the month, during which time the RSI moved out of an overbought condition and the MacD made a bearish crossover. Volume was 95% greater than… Read More »