07 November 2013

SP 500 and NDX Futures Daily Charts - A Post Twitter Market Commences

Twitter came out this morning, to cheers and jubilation at around 45, ticked as high as 50 intraday, and then closed slightly below the open at about 44 and change.

The rest of the market dumped off, in a somewhat cynically amusing manner, despite a 'better than expected' GDP number.

It was like the Twitter IPO sucked all that fast 'liquidity' out of the market, and tech stocks in particular dropped in the vacuum it created. Momentum is fleeting.

Tomorrow we get the Non-Farm Payrolls number. Consensus if for an add of 100K. I would not even care to hazard a guess.
It comes down to how they handle the 'government shutdown.'

Have a pleasant evening.