Key Technology Stocks Bucking Sharp Market Sell
Some major leading technology stocks are moving to the upside even though the markets are getting slammed. These stocks have been up all day long and are known as leaders in their group. First, from the start of the day Apple Inc. (NASDAQ:AAPL) was positive. It has slowly inched higher even in the face of a massive drop in the markets. It is currently trading at $325.93, +3.32 (+1.03%). In addition, Baidu.com, Inc. (ADR) (NASDAQ:BIDU) is leading the Chinese technology stocks and even beaten down Research In Motion Limited (NASDAQ:RIMM) is jumping to $29.44, +1.04 (+3.67%).
The fact that technology leading stocks have been strong all day usually tells traders there is a move higher off the lows coming. Sure enough, the markets have moved nicely off their lows of the day. In addition, technically a master level was tagged on the daily chart of the S&P 500 which should be major support. There is a high probability this market may stabilize for a week off this level.