Dow Jones 10374 -41
Nasdaq 2645 +47
S&P 500 1315 +0
The Nasdaq Composite ended the day up +47 to 2,645 after rising as much as 152... the Nasdaq 100 Index rose 43 points to 2,549...investors remained hesitant to commit amid political and economic uncertainty...by losing around 100 points off its intraday highs, Nasdaq reminded that the early rally was not more than just a bounce from deeply oversold conditions...it looks like the road to a proper Nasdaq rally is still a tough one... having to get through the pre-announcement period...being the first condition..as more warnings are ahead of us...
Robert Dickey of Dain Rauscher said "the market is certainly oversold enough to begin a year-end rally. But the Nasdaq has not been able to string together three up days in a row since August and this kind of action is necessary, alongside a break through resistance at 3,000, in order for the trend to turn positive for a longer period..."
Bryan Piskorowski, market analyst at Prudential Securities, said "the bottom line is: nothing has changed between Thursday and Friday to pull Wall Street out of its slump...The market looks tired. Any rally is suspect until proven otherwise, and that's what we're seeing. A lot of people don't want to take positions heading into the weekend."
Nasdaq 2645 +47
S&P 500 1315 +0
The Nasdaq Composite ended the day up +47 to 2,645 after rising as much as 152... the Nasdaq 100 Index rose 43 points to 2,549...investors remained hesitant to commit amid political and economic uncertainty...by losing around 100 points off its intraday highs, Nasdaq reminded that the early rally was not more than just a bounce from deeply oversold conditions...it looks like the road to a proper Nasdaq rally is still a tough one... having to get through the pre-announcement period...being the first condition..as more warnings are ahead of us...
Robert Dickey of Dain Rauscher said "the market is certainly oversold enough to begin a year-end rally. But the Nasdaq has not been able to string together three up days in a row since August and this kind of action is necessary, alongside a break through resistance at 3,000, in order for the trend to turn positive for a longer period..."
Bryan Piskorowski, market analyst at Prudential Securities, said "the bottom line is: nothing has changed between Thursday and Friday to pull Wall Street out of its slump...The market looks tired. Any rally is suspect until proven otherwise, and that's what we're seeing. A lot of people don't want to take positions heading into the weekend."
