The NASDAQ continues to act poorly. Today it sold off on higher volume after tagging the Jan – Feb downtrend line I drew yesterday. (The S&P and Dow also had distribution days today.) It’s now back below its 50-day moving average. I think it’s safe to assume that we’re heading back down to the bottom of that trend channel. We may just drift back down towards that line over the next two days while thhe angst over Friday’s jobs report builds.
