NASDAQ tumbles over 2% after reaching all time

Technical Analysis

Author: Greg Michalowski | nasdaq

California rolling back reopening and the outside the lower close pressure tech talks

The US stocks are ending the session with mixed/negative results. The Dow industrial average actually close marginally higher on the day. The S&P index and NASDAQ, however, reversed earlier gains and fell sharply. Contributing to the declines was the news that California was rolling back some of the reopenings

  • The S&P index fell -29.77 points or -0.93% at 3155.27. The S&P index turned briefly positive for the year above 3230.78% intraday with the high price reaching 3235.32. That is the 2nd time since February 25 that the price briefly extended above the close from 2019 only to fail in the same trading day. Bearish
  • NASDAQ index -226.59 points or -2.13% at 10390.84. The index had a outside day lower close, after trading to a new all time high of 10824.78. Bearish
  • The Dow industrial average close up 10.7 points or 0.04% 26086.00
All the major indices closed near the lows for the day, after giving up some hefty gains.

  • The S&P index was up 1.58% before closing down -0.94%
  • the NASDAQ index is up 1.95%, before reversing lower in closing down -2.13%
  • the Dow industrial average was up +2.13% before reversing and closing near unchanged at +0.04%.
The % changes of the major indices
In some of the high flying stocks of late :
  • Apple shares nearly traded to the $400 level (reach $399.82). It closed down at $381.91.
  • Amazon shares reached and intraday and all time high of $3344.29 before reversing back down in closing at $3104
  • Tesla shares reached a intraday and new all-time high of $1794.99, before reversing and closing at $1497.06.
  • Netflix shares reached a high price of $575.37 before it reversed lower and close at $525.50.
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