like last year we are new in the zigzag mode. This week NASDAQ finish the week red after an up-down week but over all volume was less than average volume. bio-tech companies ETF ( IBB ) also retrace and work in sideways after huge run in 2013. in NASDAQ we are in small correction with sideways consolidation but this is good for new uptrend if we break this small down line for new uptrend.
In SP500, we still are in this uptrend and until now the 50ma work as support which hold for last 5 months. this is one of strongest uptrend in last 3 years as we are in 5th months of the uptrend. volume was also drop below average like NASDAQ. In last week we have only one up day and was with highest volume of the week which is good sign for the bulls. overall, market in good correction after the 5-months uptrend. Market each year work in cycle as i think start with uptrend like last 3 years than in summer work sideways before it run back up and than small correction before start the new year trend.
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