Friday, October 26, 2018

And it's gone! Stocks lose all their gains in first two hours of trading following exuberant dip buying yesterday

On Oct. 26, equity markets have given up all their gains from the day before as the Dow, Nasdaq, and S&P 500 cratered during the first two hours of trading on Friday.

Thanks in large part to Tesla's Q3 announcement that they had finally achieved a profit here in 2018, and low volume dip buying on the Dow, stocks recovered a modicum of gains on Thursday.  However as has been the trend over the past week, every single positive day in the markets has been immediately followed by an even worse selloff that has brought both the Nasdaq and the S&P into correction territory.


S&P 500:



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