[Video] Bears Attack the Nasdaq, Oil Hits 3 Year High
Matt Simpson October 5, 2021 7:06 AM
Technology stocks were the worst performers yesterday with a multitude of factors weighing on sentiment. And one of those is higher oil prices.
In today’s video we look at brent futures which hit a 3-year high yesterday, after OPEC+ confirmed they’ll stick to their plan of gradually increasing oil output (as opposed to increasing the rate of oil output). And we think there could be more gains to come, especially if bulls can hold prices above $80 today. We also look at the Nasdaq 100 cash index chart which has fallen to a multi-week low, although two key support levels continue to hold for now. And we also update our analysis on Morgan Stanley (MS), as it probes the lower boundary of its bullish channel.
S&P 500: Market Internals
S&P 500: 4300.46 (-1.30%), 04 October 2021
- Energy (1.62%) was the strongest sector and Information Technology (-2.36%) was the weakest
- 8 out of the 11 sectors traded lower on the S&P 500
- 280 (55.45%) stocks advanced and 225 (44.55%) declined
- 72.48% of stocks closed above their 200-day average
- 48.51% of stocks closed above their 50-day average
- 40.79% of stocks closed above their 20-day average
- + 3.97%-Match Group Inc(MTCH.OQ)
- + 3.31%-Costco Wholesale Corp(COST.OQ)
- + 3.09%-Expedia Group Inc(EXPE.OQ)
- ·-6.26%-Nike Inc(NKE.N)
- ·-5.38%-Moderna Inc(MRNA.OQ)
- ·-2.94%-Enphase Energy Inc(ENPH.OQ)
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