Sunday, July 08, 2012
Market action review for Fri July 06th
Dow and S&P500 fell nearly one percent while nasdaq was down 1.3% on Friday July 6th. The disappointing jobs report which came out on friday seem to trigger the loss. However, the underlying breadth did not support the down move. The markets seemingly are digesting the gains acquired from last couple of weeks. We are heading into earnings season this week from a light trading week which could provide some sort of catalyst for the market to launch higher as long as we do not see a huge sell off.