And the market continues to take investors on quite a ride. Last week we saw the NASDAQ gap below key support and then midweek jump back to the upside, finishing the week higher. This week we saw higher highs reversed and now today a heavy volume distribution close back below the 50 MA. What gives?
Jobs data is due out at 8:30 AM before the market opens; expect this to affect the market. There will be no recap tomorrow as usual so lot's of charts tonight, stay frosty out there, and I bid you a fantastic weekend!
[...] week Thursday I noted that the market looked shaky. Friday's employment numbers missed the market and spurred a massive distribution day sell off. [...]