Market technician Dave Chojnacki of Street One Financial wraps up the trading week with a deep look at the major U.S. averages, and updates the technical levels investors should be focusing on.
The Market opened lower yesterday morning, despite the lowest Initial Employment Claims in some time. They came in at 223K versus market expectation of 244K. Equities continued a slow move lower, as investors waited for the big story of the day, which was the SNAP IPO. It was a successful launch, as the stock opened at 24.00 and closed at 24.48, 44% above its initial offer price.