Markets continued to drop precipitously to close out the week, falling back down through key support levels and seemingly confirming that the recent rally has run it’s course. I noted last weekend that it was best to remain in cash, and since then the Nasdaq had an 8% weekly price range and closed down 3% on high weekly volume. Any setups crossing pivot points need to be taken in the context of the broader market environment, and as things remained unhealthy last week, buying should have been avoided.