The End Of A Long Streak For The Nasdaq

I’m not a big fan of streaks when it comes to stocks

I mean it is nice while it lasts, but like any financial instrument that is rallying, eventually there needs to be a pullback and on Friday you got one with a whopping 0.04% pullback on the Nasdaq.

How amazing, right?

That is the stock market for you this day and age and the morning futures aren’t showing any worries or follow through really as they are essentially flat to slightly negative ahead of the open.

Meanwhile, you have the S&P 500 (SPX) that has experienced a 2-day pullback for a combined 1.29 points in total or 0.052%. You get a sense that the fear is really starting to set in there, don’t ya!?! 😉

The Russell and Dow have both shown more signs of weakness than the two aforementioned indices and heading into the week, you have a Healthcare vote on Tuesday, FOMC meeting on Wednesday, and GDP on Friday, along with tons of earnings, and much more economic news too.

Not to mention you have Kushner, Manafort and Trump Jr. all testifying this week before Congress, and then, of course, you have Donald Trump himself and the potential for conflict with North Korea at any point.

S&P 500 Technical Analysis