The Traderszone Network

Published in TZ Latest News 15 September, 2014 by The TZ Newswire Staff

Distribution Hits Nasdaq Again As Growth Names Take Hits

The broad S&P 500 and NYSE composite traded quietly and in a tight range Monday, but it was a completely different story on the Nasdaq as profit-taking hit several leading growth stocks. The tech-heavy index fell 1.1% in higher volume, registering its third distribution day in five days and fourth since its Aug. 13 follow-through. The rapid rise in distribution and selling in leading stocks means the market uptrend is now under pressure.

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