Dr. Julie Peterson-Manz reviews the Around The Horn stock action for May 12, and presents trade ideas that still have the possibility of triggering for May 13.
The daily chart for QQQQ, the exchange traded proxy for the Nasdaq 100, is revealing waning momentum and the increased volume on the recent pullback is suggesting that this index, having out-performed the rest of the market for several weeks, is now looking the most problematic in the near term.
The indices had a difficult morning, but a snapback rally in the afternoon brought them way back and actually put the Dow back in the plus column. But the indices ended mixed on the day.
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