Madhusudhan Talluri
:
not finding any news.... the way it dropped all thru day it looks like an algo selling - someone big probably unloading after recent spike.
The market climbed Thursday as earnings results painted a steady picture of retail health for the fourth quarter of 2024. A gaggle of stocks on the S&P 500 hit 52-week highs. Just past 4 pm ET the$S&P 500 Index (.SPX.US)$traded +0.36%, the$Dow Jones Industrial Average (.DJI.US)$fell 0.28%, and the$Nasdaq Composite Index (.IXIC.US)$climbed 0.51%. MACRO Thursday macro showed 219k people filed for unemployment in the US l...
Oh its going : Nothing.
Madhusudhan Talluri : not finding any news.... the way it dropped all thru day it looks like an algo selling - someone big probably unloading after recent spike.
Junius Falcon : It is normal to retrace to a previous jump gap to provide market liquidity.
Technically, it hit a resistance level and it retraces