Money Flow Signal: Tough Time For Techs

DawnTreader

Posted: 09 March 2004 10:59 AM

[ Ignore ]

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Total Posts: 21066

Joined 2002-01-04

Money flow indicators have turned bearish on techs as the market digests trading moves in various sectors. No doubt earnings are needed to push techs higher, but overall the market is signalling lack of investor support for the technology industries.

Compund this money flow signal with the billions that have been moved out of domestic equity and bond markets and overseas due to low US interest rates and the full weight of the next leg up for techs may depend on solid earnings reports for the March quarter.

Apple is an exception in this case as the iPod mini continues to gain investor interest.

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