Yesterday, most US stocks and indexes declined and closed the trading day in the red zone after a day of rallying. It seemed that positive economic reports from the US and Germany reassured investors. However, during the last trading hour, tech and banking stock started losing value.
Standard & Poor's 500 dropped 0,01% down to 1403,94. Nasdaq saw a similar picture: -0,18% down to 3016,98. Dow Jones Industrial Average managed to stay positive: +0,02% up to 13172,14.
Groupon, a US discount service, saw its stock dropping down to $5.54 per share. It was a 27% decline.
At the same time, the stock of Home Depot gained 3,5 %.
The chart below, courtesy of , reflects the current state of affairs in the market of Standard & Poor's 500. One of the possible scenarios is a rally represented by wave 5 of (5) up to 1412 or even higher. However, if there is a break below1394, the pattern will be canceled. There is an alternative scenario – a decline (wave[c] of (4)) after consolidating from a certain period.
