Market review

sony

Weekend Outlook

A stronger dollar and worse-than-expected results from Dell (DELL) put stocks on the defensive Friday.

The Nasdaq lost 0.5%, up from a 0.9% deficit. Dell gapped below its 50-day moving average and lost 10% in about four times average trade.

Meanwhile, the NYSE composite also fell 0.5%. The S&P 500 gave up 0.3% and Dow 0.1%.

Volume rose on the NYSE, giving the NYSE composite and S&P 500 a distribution day. The Nasdaq avoided a distribution day as its turnover fell.

The Dow rose 0.5% for the week. The Nasdaq lost 1%, NYSE composite 0.5% and S&P 500 0.2%.

Ebix (EBIX) dropped 5% in more than twice its average trade. The software maker finished lower for the fourth straight week. Ebix's Accumulation/Distribution Rating slumped to a worst-possible E from A in late October.

The markets sold gapped up nicely this week but then also gapped back down to hold at support (SPY). We are still watching this area to see if our high base can hold up.

源济