Online Stock Trading | Friday’s market

Friday’s market


Filed Under Market Commentary |

Friday’s ending:

Symbol Last Change
Dow 12,110.41 -49.27 (0.41%)
Nasdaq 2,372.66 -6.04 (0.25%)
S&P 500 1,386.95 -5.33 (0.38%)
Russell 2k 778.77 -4.84 (0.62%)
S&P 400 823.89 -4.55 (0.55%)
S&P 600 399.88 -1.69 (0.42%)

Not much can explain today’s drop other than selling pressure remains. The NASDAQ and S&P 500 logged distribution days signalling this rally attempt’s chances of following through are slim. CPI, Economic concerns, and sub-prime lending have all taken a shot at the market. But, this does not mean that we are clear for take off.

NASDAQ is down just over 6% since its Feb. high. This market is tired and as been going through distribution. There have been pathetic signs of accumulation but always is trumped by distribution. It is going to take some time to get this marketed worked out. All of this housing crash talk should make an interesting thing to unfold. How will it affect the market, the consumer all will be played out in our eyes.

Still holding onto my QID and SDD. Cash is the “best” place to be at the moment.

Enjoy your weekend,
MS

marketspeculator@gmail.com

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