Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Sellers Make A Return

Published 02/11/2021, 12:06 AM
Updated 07/09/2023, 06:31 AM

No surprise to see sellers make an appearance yesterday, after a sequence of gains. It was fairly measured selling without any real panic and the percentage loss was light.

Buyers were able to make back some of the losses by the close of business. The first test for the indices will be the January swing high. 

Both the NASDAQ and S&P are underperforming the Russell 2000, so there was a risk selling could have been more emphatic for these indices, but this was not the case on Wednesday. 

COMPQ Daily Chart

SPX Daily Chart

The Russell 2000 (via IWM) also experienced heavier volume selling despite its relative outperformance.

IWM Daily Chart

Sellers may be starting a run, but it's going to take more than one day of selling to suggest this is anything more than typical action. There isn't more to say until we see how this evolves.

Latest comments

Thanks Declan
Thanks Declan
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.