Window dressing pushes major stocks down
As the quarter ended major stocks took a dive. GOOG, PCLN, CMG, NFLX, AMZn all dived to their respective moving averages and the profits were sucked out of the rising stars, and taken to book gains at the end of the quarter. Strange things happen towards the month end, but this was by far the weirdest quarter. The SPX stayed bullish buoyed by banking sector alone while NDX and RUT all met their 100 day moving averages. This was spooky and harder to trade, as the divergences were really very unsettling- watch the video and you get a sense of things that rocked the market last week.