Markets fell modestly a day ahead of Bernanke, and volume did grow. The moves were anything substantial, and the benchmarks having been begging for the oxygen masks after ascending on multiple days to altitudes not seen ever before on the S&P 500, or in 13 years on the Nasdaq. We like to pay attention to some of the generals or leaders in the market, and try to figure out what they are conveying. For what they communicate carries much greater credence to there less important peers. Today some were shouting, including GS TSLA YNDX. GS of course reported this morning, and fell on a decent report, recording a bearish outside day in the process. It is still above the 50 day however. Speaking of GS, it put out a cautious note on TSLA, which seemed to be stuck in reverse, pun intended, falling more than 14%, after Mondays 2% reversal from an all time high. YNDX fell 4% on elevated trade. Others that had notable declines today were STMP which dropped 11%, but met 50 day SMA support. The stock is still at decade highs. BWLD fell 4%, on more than double average daily volume, from recent all time highs. The elevated trade that accompanied all these aforementioned stocks should cause at least some concern.
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