Off the Charts
Stocks slid lower today to close April in the red. April is the first negative close to a month since November 2011. The Nasdaq was the weakest of the indices today, largely because of the weakness in Apple (AAPL), which closed the day down 19 points, or 3.15%.
After last week's rally from the double bottom that was put in place at 1357, traders came into today cautiously optimistic. Last week's rally was constructive, but it was doubtful the market was just going to run to new highs above 1422. Last week there was a bad GDP number, and today there was a weak Chicago PMI number. Tuesday at 10 a.m. there is the ISM number that traders will look to for short-term direction, followed by the jobs number this Friday....935 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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