Stocks succumbed to profit-taking last week. That’s not a surprise, given the market’s ability to fashion decent double-digit gains in 2014.
The Nasdaq composite led the downside, falling 1.7%. That marked the index’s third weekly decline over the past five weeks.
The S&P 500 dropped 1.5%, taking a big bite out of the prior two weeks’ worth of solid gains.
The IBD 50 sank 1.6% for the week. [Read more…]