The Closing Look

The bulls were disappointed on Thursday after the bears showed up and sent stocks lower. Before the open, futures were higher after oil prices spiked nearly 5%. The Dow Jones Industrial Average and S&P 500 pulled right into their respective 50 DMA lines and were due to bounce. The inability to bounce speaks volumes to how weak the market is right now. Additionally, several key areas of the market are under pressure and not acting well. Remember, the always fun- and fake- jobs report will be released on Friday.

Gary’s Thoughts:Icky…TSLA couldnt even go up on their big loss. Also seeing tops in payroll stocks…with the fake unemployment number out tomorrow.