|The Nasdaq ran into some selling on Thursday and Friday as the market tests the bulls' conviction. Despite the selling, this index remains in a constructive pattern for higher prices. As always, I would keep an open mind as to where the market may go from here.|
The Nasdaq has not strung together four consecutive down days since March, which coincidentally marked the beginning of the 2-month spring correction. Continued selling into Monday and Tuesday could mark the beginning of another correction. Should the bears fail to materialize again, then I would suspect a new 52-week high will print in quick order.