Increased Investor Complacency Set the Stage for the Poor Market Action Today [TheStreet.com]
Apple Inc. (AAPL)
Last apple inc. earnings: 4/30 04:30 pm
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Source: TheStreet.com
Increased Investor Complacency Set the Stage for the Poor Market Action Today Market players have been feeling better about the market after the strong earnings news from Netflix ( NFLX ) helped to push the S&P 500 out of its recent trading range and over its 50-day simple moving average. The Fed has been a non-issue lately and the emotional reaction to the potential of a trade war had cooled off. All of this helped to create some optimism about a positive reaction to earnings season. This increase in complacency set the stage for the poor action today. Concerns about semiconductors and what that means to smart phone sales put pressure on Apple ( AAPL ) and a host of other technology companies. Also a spike in interest rates raised concerns that maybe there will be some increased economic headwinds. There isn't any great mystery about what is impacting the market today. The more important issue is whether this is a major turning point or just another hiccup in a marke
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