1Finance

Nasdaq Hits New High as Dow, S&P 500 Slip

"The S&P 500 dipped 0.1% to 2,269.00 today, while the Dow Jones Industrial Average declined 42.87 points, or 0.2%, to 19,899.29. The Nasdaq Composite rose 0.2% to 5,487.94, a new record."

Dow Jones Industrial Average:



S&P 500:



"The S&P 500 reached new all-time highs in December and then moved horizontally on lighter volume as the
holiday period approached. The S&P 500 reached overbought status on some oscillators in early December and both its internal momentum and the number of NYSE stocks making new 52-week highs pulled back markedly towards year-end. Equity put/call ratios (a contrary indicator) and bullish prognosticator show rising optimism and the percentage of NYSE stocks trading above their respective 50-day Moving Averages were at 67% at year-end (courtesy of Investors Intelligence). With the S&P 500 near its all-time highs, these negative divergences suggest a correction."

the source