Despite some early enthusiasm about the jobs number, the day ends with the broad market indices more or less flat. The sector action was also subdued, at least for the most part. We had moderate weakness in bonds, biotech and housing while commodity corner was strong.
While the daily action might not have finished with much strength, the daily chart of the S&P 500 (SPX) is still shaping up with some encouraging signs. Today's gain wasn't large but it did allow us to hold all of yesterday's pop. So, we head into next week with the S&P 500 poised for a potential breakout. And that is where I will pick up on Monday. Have a great weekend...
Chart Courtesy of Thomson Financial
| Index |
Index Value |
Point Change |
Percent Change |
| S&P 500 (SPX) |
1413.9 |
4.6 points |
0.32 percent |
| Dow Jones Industrial Average (DJIA) |
13058.2 |
48 points |
0.37 percent |
| Nasdaq Composite (COMP) |
2477.0 |
-3.7 points |
-0.15 percent |
| Russell 2000 (RUT) |
725.7 |
-4.0 points |
-0.55 percent |
| CBOE Market Volatility Index (VIX) |
18.18 |
-0.70 points |
-3.7 percent |
Chart Courtesy of Thomson Financial
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