Stocks wipeout early gains and turn negative

Technical Analysis

Author: Greg Michalowski | sp

NASDAQ index leads the way lower

After trading to all time highs, the major US indices have reversed course and trade lower. The NASDAQ index is leading the way down.  the Russell indexes also reversing course and trading lower. It has been leading the way to the upside in 2021. The Russell index currently trades down -0.73%.

A snapshot of the market currently shows:
  • S&P index -4.3 points to 3907. The low price just reached 3896.96. The new all-time high price reached 3931.50
  • NASDAQ index -57 points or -0.42% at 13949. The low price reached 13899.78. The new all time high price reached 14109.11
  • Dow industrial average -11 points at 31364. It reached a low price of 31310. The new all time high price reached 31509.87.
Market price action is volatile, as profit-taking enters the major indices after each traded to all time highs earlier in the session.
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