Apple Downgrade Is A Drag Tuesday

11-10-2015 5-33-06 PM

It was noted Tuesday that the company’s stock fell due to a slowdown in orders for equipment needed to build more iPhone 6s. This was a drag on tech indexes and other sectors given the high weighting the stock has in many sectors overall.

Still markets managed a slight gain on the day except for tech.

Speaking of high company weightings it was noted that 8 stocks have kept indexes slightly positive YTD. Without them markets would be negative YTD.

Goldman Sachs reports, you decide:

11-10-2015 5-32-27 PM

Market sectors moving higher included: Homebuilders (ITB), Consumer Discretionary (IYT), Retail (XRT), Healthcare (XLV), REITs (IYR), Utilities (XLU), Brazil (EWZ), Japan (EWJ), Hedged Japan (DXJ), Italy (EWI) and not much else.

Market sectors moving lower included: Tech (XLK), Materials (XLB), Europe (IEV), Emerging Markets (EEM), China (FXI), Asia ex-Japan (AAXJ), India (EPI), Hong Kong (EWH), South Korea (EWY), Taiwan (EWT), Euro (FXE), Silver (SLV), Gold Stocks (GDX), Semiconductors (SMH), Base Metals (DBB), and High Yield (HYG).

The top ETF daily market movers by percentage change in volume whether rising or falling is available daily.

Volume ultra-light and breadth per the WSJ was mixed. 

11-10-2015 5-33-58 PM

There isn’t much in the way of economic data this week until Retail Sales show up on Friday.

For now investors are of two minds. On the one hand they’re trying to reconcile good news being bad given Friday’s Employment Report means a possible interest rate increase sooner than expected; and, with the reality that Friday’s good news was actually not as good as advertised.

This may hold investors on pause until after the December Fed Meeting.

Let’s see what happens. 

Disclaimer: The charts and comments are only the author's view of market activity and aren't recommendations to buy or sell only any security. Market ...

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