Major indices tumbled lower. NASDAQ down 3% on the day

Technical Analysis

Author: Greg Michalowski | sp-index

S&P index falls over 2%

The S&P index and NASDAQ index closed lower for the 5th time in 6 days. All 11 sectors of the S&P moved lower. Stocks closed near their session lows with the NASDAQ index tumbling over 3%. The S&P index is 9% away from its high. The NASDAQ index is now 12% from its all-time high. The major indices are on track for their 4th week in a row lower.

No good news in all those statistics.

A look at the final numbers show:
  • S&P index -78.65 points or -2.37% at 3236.92. The low for the day reach 3232.57
  • NASDAQ index fell 330.565 points or -3.02% to 10632.96. The low price reached 10612.91
  • Dow industrial average fell -525.05 points or -1.92% to 26763.13. The low price reached 26716.12

Big losers today included:
  • Albemarle, -15.61%
  • Tesla, -10.3%
  • US steel, -8.06%
  • Lyft, -4.73%
  • Chevron, -4.73%
  • Salesforce -4.73%
  • Amazon, -4.18%
  • Schlumberger a, -4.15%
  • Netflix, -4.14%
  • Apple, -4.09%
  • Nvidia, -4.05%
  • Intuit, -3.89%
  • Square, -3.89%
  • AMD, -3.84%
  • Boeing, -3.6%
Winners today included:
  • Nike, +8.77%
  • Western Digital, +6.72%
  • Twitter, +6.11%
  • Zoom, +1.62%
  • Chipotle, +1.2%
  • Chewy, +0.94%
  • First solar, +0.71%
  • Bristol-Myers Squibb, +0.39%
  • Micron, +0.32%
  • J&J, +0.12%
GoodRX came public today at a IPO price of $33. The price opened at $46, moved to a high price of $51.78 and is closing at $50.50 (a nice symmetrical number), up 53.03% on its 1st day of trading. There are some happy longs out there.  
For bank trade ideas, check out eFX Plus
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