A quiet close to Friday's trading but Dow Jones ready to breakout
Markets eased back from their weekly highs on declining volume, but has been a fairly orderly move lower. Support levels are there for indices to lean on. The Nasdaq has its 50-day MA alongside its 20-day MA to use as support. The 'black candlestick' is typically a bearish one-day candle, but as it's not positioned as a swing high it carries less weight. Technicals are net positive, although there is a return to underperformance against the S&P. An ideal candlestick would be a gravestone 'doji' or a bullish hammer as an end point to this decline.