Friday closed another day in the red, off the weeks lows, but another big losing day. Volume dropped off on Friday, leaving Thursday and Friday to have lower volume than the first half of the week. Our week was pretty nasty despite the two day bounce we saw on Wednesday and Thursday. The Nasdaq 100 and Nasdaq composite on the weekly and daily charts are short term oversold, the S&P 500 along with the Dow are short term oversold on the daily, but not the weekly. The bank sector did eke out a win on the week, but that was the only key sector to manage tha[...]
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[Source: The Money Blogs]
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