Even after a 5%+ two-day rally, the S&P 500 and nine of ten sectors remain oversold relative to their historical trading ranges. Have a look at our sector trading range screen below:
The Monday morning ETF flash crash that saw the S&P 500 equalweight ETF (RSP) fall 43% continues to make the charts just look silly. Below is a look at the biggest winners in the Nasdaq 100 off their Monday low price ticks. Baidu (BIDU) hit $100 on Monday morning and is now back up to $150 — up 50%! Netflix (NFLX) hit $85.50 just after the open and is now back up to $117.40 — less than $10 off its all-time highs. Starbucks (SBUX) and Celgene (CELG) are both up more than 30% from their Monday lows as well.