Shakeout or A Warning of Something Bigger?

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Friday was a day much like other days this week, with the stock market moving higher and many individual stocks acting very well. Something happened around 1:30 however and changed things greatly – an approximate 65 point drop in the Nasdaq in about an hour followed by a thirty point rally back up in the final hour is not something you see everyday. Supposedly this drop had to do with the situation in Ukraine and actions taken by Russia. Whatever it was, a lot of individual stocks were hit (at least temporarily) and look a lot uglier than they did the night before. Ever since February 5, the market has been grinding along with very little rest but since it continues to hold its short-term nine day exponential moving average, …


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