The broader US stock indices have now moved into negative territory and traded two new session lows. The S&P is down -18 points are -0.33% at 5469. The NASDAQ and is down -133 pointer -0.74% at 17729.
- Nvidia shares are now negative by $2.26 or -1.59% $133.38.
- Apple shares are down by $4.45 or -2.08% at $209.84
- Microsoft shares down $-2.49 or -0.56% at $443.87
The NASDAQ index as close higher for seven consecutive days in each day has closed at a new record high.
The S&P index close at record levels on Friday.
The question is if the indices closed lower – after trading to new all-time highs today and trading outside the range from Tuesday’s trading – will that start a corrective move to the downside?
Anything is possible and corrections start from closing lower.
The NASDAQ index traded up 17.83% from the swing low reached on April 19 to the high-priced today. It is due for a corrective move.
This article was written by Greg Michalowski at www.forexlive.com.
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