I think you can officially downgrade the Magnificent 7 to the Super 6 today with Tesla down another 10.4%.
What’s more impressive is that despite a 10% decline in one of the world’s biggest companies, the Nasdaq is up 0.5% today and on track for a fifth consecutive record close.
American Airlines is the leader in the Nasdaq after it raised guidance to $2.25-$3.25, which is above the consensus $2.22.
Google (+2%), IBM (+11.4%) and CAT (+4% … China effect) are also strong.
There is much to like here the fear-and-greed index is a reminder that even after the little correction at the start of January, it’s been one-way trading since the end of October.
SPX daily chart