Nasdaq Market Update for 10/30

The market sold off heavily on Friday after a big day of earnings releases that did not meet the demands of investors who were already nervous from the resurging pandemic and the pending turmoil from next weeks election. There is not much to look at on the good side other than the pullbacks will eventually create new opportunities.

Nasdaq Market Update for 10/29

It was a reasonably good day following the sell-off on Wednesday. The Nasdaq finished up +1.64% after tempting itself with the 50d MA and September Resistance line. Volume was lower, returning to the recent levels that have represented the wait-and-see level of activity in the market, well below the 50d average volume .

Nasdaq Market Update for 10/26

Well, crap. Welcome to Monday. News over the weekend reset expectations coming into the morning, but there was still hope that support would firm up and it initially did that as the market opened, coming close to Fridayโ€™s high. Then the reversal, 30 minutes into trading, came after New Home Sales data disappointed and it was a long slide from there.

Nasdaq Market Update for 10/23

One more day of reversals to close a choppy week. Every day this week had a morning move that reversed once or more by close. Earlier in the week it was higher highs that reversed to lower lows. At the end of the week, it was lows that reversed to close with gains.