Major averages rose mildly on higher volume. Friday brought the monthly jobs report which came in well above estimates in both jobs added and in wage growth which was a bullish sign for the labor market. Nevertheless, institutions seemed reluctant to push major averages appreciably higher. Perhaps they are more concerned about any new quantitative easing being delayed thus markets remain tentative. There was also another Hindenburg Omen signal Friday, making it four signals in the last five days. That said, this Omen has a spotty track record especially in this QE environnment.
TSLA continues to break down. We discussed it in detail as a possible short in our webinars in late November. Other stocks such as TWTR and NFLX also falling further.
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