Failed Weekly Highs

Indexes could not put together a killer day and ended the session being chased on the downside. Lower highs and lowers low on the weekly price action are the current look for the DJI, SP500, and the NQ100 and that needs to be changed to get some type of traction. The overall mood is decidedly bearish and the cover stories about bad paper highlight a tremendously bearish attitude. The bears will try to set the table for a Friday rejection in hopes of sending the indexes lower for the third Friday in a row. The DJI is net just over two hundred higher on the week and well within disaster range.