Major averages fell Thursday on mixed volume, closing at the lows of their trading ranges. The NASDAQ Composite closed below its 50-day moving average for the first time in months.
US markets so far are bouncing but on volume even lower than Thursday's pre-holiday volume suggesting a weak bounce.
Many times over the last few years when the market looked as if it was in real trouble, quantitative easing would save the day as noted by the numerous artificially-induced, shallow floors. Meaningful corrections have thus been rare. Levels of QE have diminished but QE is still a material factor as the European Central Bank and Bank of Japan are still printing in full measure. That said, the trend toward higher interest rates is in place thus a more meaningful correction could be underway.
Watch your stocks, our Focus List, and your personal watch lists as they will show you when to exit and when to enter.
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