The general market indexes continued to demonstrate that they can take a licking but keep on ticking higher early in the week as the NASDAQ Composite Index and NASDAQ 100 Index both tested the rarified air above the 10,000 level. The NASDAQ failed to hold the 10,000 mark by Friday’s close, however, while the NASDAQ 100 just barely held on to close at 10,004.31.
But the action was far from bullish on Friday. A very volatile quadruple-witching options expiration session saw the market open sharply to the upside before all the major market indexes reversed to close in the red. Volume was obviously very heavy as a result of options expiration, resulting in a big stalling and churning day for the NASDAQ on heavy volume.
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