Jitters have crept back into the stock market with last Friday's big drop in the major averages. In addition to breaking the Dow's low from the start of the year, Friday's selloff ended with the first close below the 50-day moving average since the end of October.
Note also that the RSI is now lower than it has been since late October as well and that the MACD is probably going back below zero soon. Finally, notice that Friday's volume was the highest the Dow has seen in quite some time. If prices don't immediately rebound Monday morning, look for the next support level to be around the 200-day moving average which is currently moving sideways near 10,550.
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