To: The Ox who wrote (71479 ) 2/7/2016 3:57:18 PM From: Return to Sender 3 RecommendationsRecommended By Donald Wennerstrom FJB Gottfried
Read Replies (1) | Respond to of 95406 InvestmentHouse - Overall a Downtrend is Now in Place (Weekend Newsletter)investmenthouse.com Jobs miss, unemployment below 5%, victory declared, but the same old problems are present and more. And the market knows it. - Foreign workers are not taking your jobs, but they are. - A low pay, hourly job does not equal a middle class salaried breadwinner job. - NASDAQ now at its post QE3 lowest. - DJ30 hanging in thanks to money moving to beaten down areas, but it won't be a refuge forever. - Sharp Friday selloff can lead to a relief bounce or more downside, but overall a downtrend is now in place. Market Summary (continued) NASDAQ broke to lower closing lows below the January closed and the August 2015 close. RUTX broke to a new 2016 and the lowest close since mid-2013. All indices lost more than 1% with NASDAQ sporting a rather startling 3.25% decline with NASDAQ 100 falling 3.44%. SP500 -35.40, -1.85% NASDAQ -146.42, -3.25% DJ30 -211.61, -1.29% SP400 -2.21% RUTX -2.87% SOX -3.53% VOLUME: NYSE -5%, NASDAQ +13%. NASDAQ volume jumps well above average as the NASDAQ stocks get sold heavily. A/D: NYSE -3.2:1, NASDAQ -4.4:1. Friday looked bad, but while SP500 did not make a run at 1940 and sold 1.85%, it did hold over the January consolidation lows that formed after the initial rally off that selling. DJ30 hardly flinched, holding near its rebound highs. SP400 showed similar action while SOX performed similar to SP500, holding at the initial consolidation lows off the first January bounce. What that shows is the continued rotation in the market from the big tech and NASDAQ names to older school names in metals, industrials, energy, utilities -- beaten down areas that are viewed as values. Values for now. Read "The Daily" Entire Weekend Summary Apologies, the link above takes me to last week's write up. Hopefully that will get fixed soon. RtS