Dow’s 300-point drop Friday caps worst week since 2011
All three major indexes lose 1.2% or more as price of U.S. oil slips below $58.
S&P 500 2,002.33 -33.00 -1.62%
DOW 30 17,280.83 -315.51 -1.79%
NASDAQ 4,653.60 -54.56 -1.16%
Russell 2000 1,152.44 -14.52 -1.24%
JNK the ETF covering the the Junk bonds tell the story here, these are linked to the struggling energy sector and tell the tale of the fear and flight to quality we are currently experiencing in the US Equities markets.
Of the 10 major sectors only retail remained above water today.
The selling was broad and the $TRIN does not indicate an oversold condition.
The S&P500 futures support level turned out to be the 50DMA on the daily chart for the ES at 1996 late in the session we saw a minor bounce here that we will watch closely to see if it can hold and act as support.