After nearly 59% rise since March low this year, S&P500 tested near its all time high at 3393 and failed to break through. This makes a Double Top formation possible. It is usually hard to break through all time high resistance on first try, especially after a tiring 5 month run up at sharp angle. Today's downside reversal came about when major tech stocks were weak. The 8 big tech momentum stocks led by AAPL are all down over 2%. The over valuation of these stocks together with investors rotating out of momentum stocks into value stocks helped the sell off. News of the virus stimulus negotiation in congress hit a stalemate also cause the general market sell off late in the day. If the sell tech stock sentiment persists tomorrow, a sharper market correction may ensue. Also, the valued and beaten down sectors such small caps, transportations, airlines, gamings, industrials, basic materials, banks and energy all have been up quite a few days already, and they may be ready to take a break. Latest news: Shares of Moderna (MRNA) jumped more than 10% shortly after 6 pm ET, after the company announced a deal to supply the US government with 100 million doses of its Covid-19 vaccine candidate currently in late-stage human trials. Meanwhile, Tesla's stock (TSLA) rose 7% after the company announced a five-for-one stock split, with the stock having closed at well over $1,300 per share earlier Tuesday.
Gold, Silver and Bitcoin also sold off sharply by 4.58%, 10.98% and 4.81% respectively. Gold sell off today is the biggest in 7 years. The sell off of these assets may have something to do with the recent sharp run up, US dollar reversal and surging Treasury yields. Since these assets are down big today, momentums are still down in the near future.
The high flying Covid-19 Vaccine related stocks also got kill today. MRNA, INO, SRNE and NVAX are down 4.22%, 23.01%, 25.13% and 16.26% respectively. Profit taking on recently sharp rises is probably the reason.
自今年三月低点以来标普500已上涨近59％，今天曾测试接近其历史高点3393但未能突破。这使得双顶的形成成为可能。通常很难在第一次尝试历史高位阻力便能特破，尤其是在疲劳的5个月以锐角上升之后。今天市场的下跌逆转主要是受科技股表现疲软的拖累。由AAPL牵头的8只大型科技股都下跌了2％以上。这些股票的股价被过分高估以及投资者从动力股票转向价值股票也帮助了抛售。国会病毒刺激方案谈判陷入僵局的消息也导致今天收盘前市场被抛售。如果明天卖出科技股的情绪持续，那么市场可能会出现更大的回调。此外，小盘股，交通运输，航空，游戏，工业，基础材料，银行和能源等有价值及被大幅抛售的板块也已经上涨了好几天，它们可能也会停止上升，休息一下。最新消息：下午6点后不久，Moderna（MRNA）的股价上涨了10％以上。 美国东部时间早些时候，该公司宣布了一项向美国政府提供1亿剂目前正在后期人体试验的Covid-19候选疫苗的交易。 与此同时，在特斯拉宣布以五比一的比例进行股票分拆后，特斯拉的股票上涨了7％，该股周二早些时候以每股1300美元的价格收盘。
黄金，白银和比特币也分别急剧下跌了4.58％，10.98％和4.81％。今天的黄金的跌幅是7年来最大的单日跌幅。这些资产的被抛售可能与近期的急剧上涨，美元逆转向上和国债收益率飙升有关。由于这些资产今天大幅下降，因此近期动力仍会向下。
高涨的Covid-19疫苗相关股票今天也被抛售。 MRNA，INO，SRNE和NVAX分别下跌4.22％，23.01％，25.13％和16.26％。最近的大幅飙升导致获利了结可能是下跌原因。
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