The closing numbers won’t reveal it, but it was a pretty volatile day today. The indices rallied in the morning but dropped back towards the flatline in the afternoon. The NASDAQ finished with a 0.42% gain vs. 0.18% for the S&P and 0.13% for the Dow. It’s interesting to note that the NASDAQ’s volume was higher than yesterday’s, but the index only moved 6.5 points. Yesterday’s slightly lower volume was enough to move the index 46 points. Clearly some sellers stepped up to the plate today. That’s also evidenced in the high number of shooting stars, doji, and spinning tops I’m seeing in individual stocks today.
Here’s the current NASDAQ Chart:
