Sellers of Stocks were hitting it hard yesterday, S&P 500 ($SPY) fell below 2100 for the first in 3 weeks. While the market attempted a bounce in the afternoon, it was only able to recover half of its morning loss.
S&P’s ($SPX) continue to see diminished lows and lower highs, which could be just a correction after the February surge. Seven of the nine sectors were down, utilities (&XLU) and energy ($XLE) bucking the selling pressure.
Techs got hit as semiconductors gave back their gains from Monday. The consumer discretionary sector ($XLY) was hit as homebuilders ($XHB) tumbled.
Stay on your toes and have a great trading day!
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