We had a beat, a stronger than expected jobs number and the Dow Jones Industrials Index closed off almost 300 points.
The weakest technically was the Nasdaq. The Nasdaq traded above 5,0000 for the first time in 15 years on Monday, it closed above 5,000 too. But it closed not only down for the week, but it was an outside week. We took out last week`s high and closed below last week`s low. Now, from a technical pattern, that is called a key reversal and its a very bearish sign for that index.
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
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- Monetary Policy: It Will Backfire
- U.S. Economy: A Gigantic Bubble
- The Federal Reserve Is Bluffing
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- A Bullish Case For Gold
- Fed`s Rate Hike Fantasies
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- The Fed Will Only Raise Rates When They Are Forced...
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- The Federal Reserve Is Even More Dovish Now
- The U.S. Economy Is Rapidly Decelerating
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- Dollar Bulls Are Wrong
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- Yellen Is Going To Have To Come Out
- U.S. Stocks Are Now Down YTD
- Stock Market: Now Good News Is Not Good News
- Nasdaq: A Key Reversal
- Early Signs Of A U.S. Recession?
- The U.S. Economy Has Never Been In Worse Shape
- The U.S. Economy Is Not Taking Off, It`s About To ...
- Will The Stock Market Be Cut In Half Again?
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- Nasdaq 5,000.
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- Stock Market: Investor Delusion
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- Very Dangerous To Be Buying U.S. Stocks
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