Indices Move Lower Ahead Of Jobs Report

Well, today the market pretty much did what we spoke about yesterday... Given the fact that we had such a small trading range yesterday set us up for a trend day today and that is exactly what we had.. The nasdaq, Dow and S&P all opened near their high and sold off all day long closing at their low. The weakest indice was the Nasdaq closing down 1.27% for the QQQQ, SPY closed down .44% and the DIA closed down .32% ahead of the unempoyment number due out tomorrow. If it wasn't for the report coming out tomorrow, I'd want to be short the nasdaq given the fact that it never made a new high ( see above chart).. but the unemployment number coming out tomorrow monring could change things so it's always best to go home flat.. We'll see what happenes tomorrow.