Week in Review
DJIA -40.86 (-0.28%) to 14,565.25; S&P 500 -6.70 (-0.43%) to 1,553.28; NASDAQ -21.12 (-0.65%) to 3,203.86 The March unemployment data came in well below expectations (88K vs 198K expectations) which send the market gaping lower and down over 1% in early trading. This took the S&P 500 toward the 50 day SMA and into a range of support which is used to rally off the lows ultimately only closing down slightly for the day. Big loser on the day was F5 Networks (FFIV) which lose over 19% after announcing Q2 earnings that were below analyst expectations. The company blamed the lower results on decreasing telecom and…
Daily Wrap
DJIA -5.69 (-0.04%) to 14,572.85; S&P 500 -7.02 (-0.45%) to 1,562.17; NASDAQ -28.35 (-0.87%) to 3,239.17 Today started with a small move higher in the morning as the 2nd quarter got its start but that optimism soon waned and after a weak ISM number we saw a quick swoon lower in the broad markets with the small caps and techs leading the way lower. I think today’s action had more to do with the upward bias into the holiday and quarter end finally being over than with the ISM number itself but as much as this market has rallied and I noted over…