Afternoon Note
Another gruesome session with the three major indices in the red, but well off the session’s lows. The index is now testing critical support (4,233), the current 200-day moving average.
Eight sectors remain in negative territory with Energy at the bottom.
The breadth is decidedly bearish this afternoon, and the volume is extremely light.
Market Breadth |
NYSE |
NASDAQ |
Advancers |
1,033 |
1,462 |
Decliners |
1,792 |
2,567 |
New Highs |
4 |
7 |
New Lows |
343 |
440 |
Up Volume |
584.48 million |
1.07 billion |
Down Volume |
1.33 billion |
1.56 billion |
The mood on the Street continues to be clouded by geopolitical concerns and the massive run up in yields. There is a nice lunch time bounce, let’s see if it holds.
Have a great weekend.
Tweet |
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