Stocks Tank On Tepid Jobs Report; Euro Plunges To A New Multi-Year Low!

Friday, June 4, 2010
Stock Market Commentary:

It was another volatile week on Wall Street as investors digested a questionable follow-through day (FTD), a very weak jobs report, and saw the euro plunge to a fresh multi-year low! On Friday, volume totals easily topped Thursday’s levels on both major exchanges much indicated heavy distributional pressure from the institutional crowd. Decliners trumped advancers by a 7-to-1 ratio on the NYSE and by more than an 8-to-1 ratio on the Nasdaq exchange. There were only 6 high-ranked companies from the Leaders List that made a new 52-week high and appeared on the BreakOuts Page, much lower than the 28 issues that appeared on the prior session. New 52-week lower outnumbered new 52-week highs on the NYSE and the Nasdaq exchange.

Tuesday & Wednesday’s Action- Questionable FTD Emerges:

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