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Nasdaq breaks the December low as decline extends to 3%

Nasdaq breaks the December low as decline extends to 3%

Equity bulls pounced in an effort to front-run a Santa Claus rally yesterday and that led to a strong rally.

It turns out that the tax loss sellers might not be done yet. It's been a rout today and the Nasdaq is leading the way, down 2.9%.

The drop reinforces the downtrend in stocks since Powell but doesn't change the focus on support at the November low of 10262 or the October low of 10088 (or 10,000 for good measure).

However if those crack, we could be looking at another... Read More

Posted: Dec 22 2022, 17:21
Author Name: forexlive
Views: 102610

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