Midday investors are retesting the recent rally. With the NASDAQ down 250 points as the lunch hour ends.
New York Stats:
Volume is just above average at 2.2 billion.
New 52 week lows are at 68 while new highs are double at 127.
Volume is not heavily to the downside with 48% moving lower and 50% still being traded to the upside.
43% of all stocks are falling on New York while 49% are still rising.
NASDAQ Stats
Volume is heavy on the NASDAQ which advises that investors who two days ago were busy buying the rally are now selling it.
Volume is 67% to the downside.
57% of all stocks are falling with 33% still rising.
New lows midday are up to 338 but there are 108 new 52 week highs holding out some hope the retest of the recent rally may hold.
Outlook:
The NASDAQ has been down to the 14930 level three times since October and each time it has managed to bounce back. Today should give us some clue what to expect.
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