“The major index ETFs opened lower and then moved mostly sideways through the morning. All the major indexes tried to rally in the late morning but were refused at Thursday’s closing level and then began to lose ground rapidly through the afternoon. The Russell-2000 mimicked the major indexes as did the Semiconductor Index (SOX 329.49 -18.43) with the SOX posting a -5.3% loss. The Regional Bank Index (KRE 24.35 -0.58) and the Diversified Bank Index (KBE 22.96 -0.71) also moved lower but KRE moved off of a closing high set on Thursday and still closed above Wednesday’s close and is still in an uptrend state…”
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About Mark McMillan:
Mark McMillan entered the world of finance to solve the problem of why and more importantly when the markets will go up and down. He developed a behavioral model to understand what is really happening in the markets and uses it to time the markets. He also uses fundamental research to determine valuations for companies. He combines the behavioral and value strategies along with macro-economic analysis to build a portfolio with both long term and tactical positions.
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