To The Moon

The US market rally pulled back in a holiday-shortened week. US Market Performance, Last Week: DJIA fell -2%, falling below its 21-day moving average (ma). S&P 500 fell -1.2% to just below its 10-day ma. Nasdaq fell -0.9% and holding its 10-day ma. Advancing issues outnumbered decliners on the NYSE by a 2.49-to-1 ratio; on Nasdaq, a 2.00-to-1 ratio favored advancers Importance of the 10-day & 20-day ma: 10 day ma: a powerful tool to know if prices are moving in an uptrend or a downtrend. 20 day ma: provides many more reversal signals than a 100-day moving average. The US Non-Farm Payroll (NFP) data was the main catalyst that affected the US market on Friday (see below). Nonfarm Payroll measures change in the number of people employed during the previous month, excluding the farming