Actionable news
0
All posts from Actionable news
Actionable news in XIV: VELOCITYSHARES DAILY INVERSE VIX SHORT TERM ETN,

Don't worry, S&P rally is still intact: Technician

Stocks on Friday closed out their worst week since August, with major U.S. indices falling about 4 percent. However, one noted technical analyst said investors have little reason to be concerned.

Looking at the charts, Craig Johnson of Piper Jaffray said the recent sell-off is due to short-term profit-taking as investors cash out on the impressive October rally.

"What we're seeing is kind of a rotation, every sector is getting some profit-taking coming into play," Johnson said Friday on CNBC's "a>


More