Tech ETFs Drift Lower
The tech-focused exchange-traded funds
ended lower Tuesday while the only tradable fund to score a plus 1% gain was the
Dow Jones Chemical iShares.
The Dow Jones Internet iShares
(
IYV |
Quote |
Chart |
News |
PowerRating)
lost 4.9% on a pickup in volume, the day’s sharpest loss among the ETFs. The
Internet Architecture HOLDR
(
IAH |
Quote |
Chart |
News |
PowerRating) gave up 4.0%, the Biotech HOLDR
(
BBH |
Quote |
Chart |
News |
PowerRating)
3.4%, the Semiconductor HOLDR
(
SMH |
Quote |
Chart |
News |
PowerRating) 2.6%, the Dow Jones Technology iShares
(
IYW |
Quote |
Chart |
News |
PowerRating)
2.1%, the Software HOLDR
(
SWH |
Quote |
Chart |
News |
PowerRating) 1.9%, the B2B Internet HOLDR
(
BHH |
Quote |
Chart |
News |
PowerRating) 1.9%.
On the upside, the Dow Jones Chemical
iShares
(
IYD |
Quote |
Chart |
News |
PowerRating) rose 1.6%.
A nascent intermediate-term rally may
be unfolding, but such rallies are normally driven by growth stocks. As our
relative strength line of growth vs. value shows, growth has been fought value to
a recent stalemate, we’ve yet to see growth reawaken into outperformance.
