Why Nasdaq Futures are Down

Being overweight AAPL is not what it's cracked up to be

   

Nasdaq futures. They’re the only thing that’s taken out the lows of last week. And the reason, simply, is Apple (NASDAQ:AAPL). It makes up almost 20% of Nasdaq futures, so with that stock being down another 10 points or so, that’s the only thing that has taken out the lows. When it comes to Dow or the Russell or the SPDRs–all the other futures are flat to slightly up, primarily because they don’t have Apple as a huge weighting. Now, with the S&P 500, Apple does make up like 5% of it, but it’s still really early.

John Lansing tracks the charts all day and offers expert technical analysis in his day trading, options and trading services: Power Trading at the Open, Parabolic Options and Trending123.


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