The stock market began the week with a pullback from record levels, but not before setting fresh intraday record highs during the opening minutes of action. The S&P 500 (-0.4%) registered its first decline in four sessions while the Nasdaq (-0.6%) underperformed.
Biotech was the culprit today and added to the weakness in the Nasdaq. In the close up view of the IBB chart below, you can take a look at today’s action. Not good. As you can see it was down $15 0r 4%.