Technology Tanks: AAPL, ADI, MXIM, MCHP, LLTC

This morning, almost all of the major stock indexes are declining sharply lower at the start of the trading session. One of the most important indexes that has been very weak and is falling today is the important NASDAQ 100 Index. Traders can easily track and trade the NASDAQ 100 Index by following the PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ). Today, the QQQ is trading lower by $1.04 to $68.44 a share. This drop is 1.50 percent decline for the tech heavy index.

The leading component in the NASDAQ 100 is Apple Inc (NASDAQ:AAPL). Today, AAPL is falling by more than $21.00 to $405.00 a share. Some other leading NASDAQ 100 stocks that are falling sharply today are Analog Devices Inc (NASDAQ:ADI) (-4.63%), Linear Technology Corporation (NASDAQ:LLTC) (-5.10%), Maxim Integrated Products Inc (NASDAQ:MXIM) (-4.10%), and Microchip Technology Inc (NASDAQ:MCHP) (-2.95%) among many others.

It is important to note that while the Dow Jones Industrial Average and the S&P 500 Index have been making new all time highs the NASDAQ 100 Index could not close above its September 2012 high. This tells us that the technology heavy NASDAQ 100 Index is weak relative to the DJIA and the S&P 500 Index. The NASDAQ 100 is also a growth index so this is where the large financial institutions will invest money when they believe the economy will grow, unfortunately that does not seem to be the case at this time.

About Nicholas Santiago 575 Articles


Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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