Another wild day of trade as a strong morning gap quickly eroded and stocks sold off throughout the afternoon until the last 30 minutes. Retail stocks were the largest victims as big names like Tiffany (TIF) traded down over 10% midday before settling off their lows.
Europe remains in focus and with tomorrow being the last day of trading to end the quarter, we should expect another “anything goes” session. There will be no post tomorrow as usual so I bid everyone a fantastic weekend and will see you all back here Monday evening .
Tomorrow’s Economic calender:
|Trend||Nasdaq||S&P 500||Russell 2000|
(+) Indicates an upward reclassification today
(-) Indicates a downward reclassification today
Lat Indicates a Lateral trend
*** I’m simply using the indices’ relations to their 200, 50 and 10-day moving averages to tell me the long, intermediate and short-term trends, respectively.