NASDAQ Technical Picture - Profit Taking Ahead of Jobs Data

We gapped up on the open and it was downhill from there. The SOX opened with a multi-month high and proceeded to carve out a bearish engulfing bar for the day. All tech sectors were weak ahead of tomorrow's much anticipated jobs data. Trying to determine how the markets will digest jobs data is always tricky. For some interesting insights on this topic check out Yaser Anwar's Investment Ideas