Online Stock Trading | NASDAQ logs 3rd distribution day as Dow hits another all time high

NASDAQ logs 3rd distribution day as Dow hits another all time high


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The divergence continues, the Dow hits all time highs the NASDAQ lags.  Volume rose across the board, the NASDAQ logged its 3rd day of distribution in 4 weeks.  Traders are still concerned with the FOMC meeting tomorrow, most fear inflationary pressures continuing.  As CNBC talking heads continue to churn on these, Mid-Caps lead the market followed closely by Small-Caps.
 
Here is how we finished:
 
Dow            12,127.88            +10.97    (.09%)
NASDAQ        2,344.84            -10.72    (.46%)
S&P 500        1,377.38            +.36       (.03%)
S&P 400           786.15            +1.98     (.25%)
S&P 600           389.29            +.79       (.20%)
Russell 2k         762.43            -1.09      (.14%)
 
Market will quickly put the FOMC rate decision and focus more on earnings.  The yellow flag is starting to show itself as the NASDAQ logged its 3rd day of distribution.  I really do not see any more heavy selling that would get us up to a 5th day of distribution.  However, we must remain vigilant.
 
Stay with the charts and hang out at Investors Paradise.
 
Happy trading.
 
 

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