The pullback in Apple and the overall tech sector has caused some investors to flee QQQ, the Nasdaq-100 ETF. Since the end of September, QQQ has seen net outflows of $2.3 billion, according to IndexUniverse. Only SPY has seen heavier selling during the period with outflows of $6.5 billion.
QQQ has fallen below the 200-day exponential moving average.
PowerShares QQQ
Full disclosure: Tom Lydon’s clients own AAPL, QQQ and SPY.