Technology Sector Down 9-Days in a Row

jamesmith

Technology Sector Down 9-Days in a Row
TUESDAY, MAY 15, 2012 AT 05:27PM
The S&P 500 Technology sector is now down 9 days in a row.  Since our daily sector data begins in 1989, the Technology sector has only had one other 9-day losing streak.  That streak came in October 1998, which was another period when markets here were being roiled by bad news overseas.  September/October 1998 was the Russian debt/Long-Term Capital Management crisis.  The 9-day losing streak for the Technology sector occurred from 9/25/98 through 10/8/98.  On October 9th, the Technology sector ended its 9-day losing streak by rallying 6.13%.  Over the next 9 days, the Tech sector gained a total of 18.59%.  October 8th, 1998 ended up being the bottom of the Russian debt/LTCM crisis.  If we could only be so lucky this time around as well.

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