Tech, Defensive ETFs Weaken
Having advanced ahead of Greenspan’s
H-H testimony in the prior session, Tuesday marked a down day for most of the
exchange-traded funds, with the tech-focused funds leading the way.
The Internet Infrastructure HOLDR
(
IIH |
Quote |
Chart |
News |
PowerRating)
gained 5.3%, the day’s sharpest loss among the exchange-traded
funds.
The Biotech HOLDR
(
BBH |
Quote |
Chart |
News |
PowerRating)
sagged 4.2%, the Dow Jones Internet iShares
(
IYV |
Quote |
Chart |
News |
PowerRating) 4.1%, the B2B Internet
HOLDRER
(
BHH |
Quote |
Chart |
News |
PowerRating) 4.1%, the Broadband HOLDR
(
BDH |
Quote |
Chart |
News |
PowerRating) 3.8%, the Nasdaq 100
Tracking Stock
(
QQQ |
Quote |
Chart |
News |
PowerRating) 3.4%, the Semiconductor HOLDR
(
SMH |
Quote |
Chart |
News |
PowerRating) 2.6%.
The defensives gave
ground, as well. The Dow Jones Healthcare iShares
(
IYH |
Quote |
Chart |
News |
PowerRating) lost 2.2%, the
Pharmaceutical HOLDR
(
PPH |
Quote |
Chart |
News |
PowerRating) 2.1%, the Consumer Staples SPDR
(
XLP |
Quote |
Chart |
News |
PowerRating) 1.4%.
The top field of all charts in this
commentary uses a logarithmic price scale and displays a 50-day price average in
red. In the second field, a
blue relative strength line represents the displayed security’s price
performance relative to the S&P 500. The third field displays vertical daily
volume bars in black with a 50-day moving average in blue for volume.
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Average Crossovers. I also recommend newcomers read my tutorial, href=”/.site/stocks/education/strategies/06272000-6815.cfm”>Trading
HOLDRs: Unique Opportunity And Risk.