Implications and Outlook
For the last three days, we have seen the NASDAQ concerns spread throughout the indices. The technology sector has been the superstar performer for some time; however, that looks to be rebalancing act at this point and also throughout the Emerging Markets sphere. Our Mean Support 7414 has been met on the money. Intermediate rebound target is Mean Resistance 7550.
For the last three days, we have seen the NASDAQ concerns spread throughout the indices. The technology sector has been the superstar performer for some time; however, that looks to be rebalancing act at this point and also throughout the Emerging Markets sphere. Our Mean Support 7414 has been met on the money. Intermediate rebound target is Mean Resistance 7550.
On Friday's session, the market started out weakly, perhaps due to the Non-Farm-Payroll report as well as weakness in Tesla stock (which in turn appeared to be unraveling-act surprised). Then it promptly the market initiated the rally, pushing the NASDAQ to an earn 0.5%; however, the ramp job news faded pretty quickly (for once), and by trading session end the indices ended marginally lower.