The Nasdaq-100 opened with a 2.14% gap higher to 29,992 on June 5 before reversing to close at 29,364, filling the entire gap. Volume reached 734.5 million shares as the index swung from a high of 30,051 to a low of 29,334.
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Nasdaq-100 gaps up 2.14% then reverses to close flat
The Nasdaq-100 gapped up 2.14% at the open to 29,992 on June 5 before reversing to close at 29,364, erasing all early gains.
The reversal wiped out a gain of more than 600 points from the open to the session low, with the index touching an intraday high of 30,051 before falling to 29,334. Trading volume of 734.5 million shares exceeded the average as the gap-and-reversal pattern unfolded.
The close at 29,364 left the index essentially flat versus the prior session, with the opening gap fully filled. The session range of 717 points between the high and low represented one of the wider intraday swings for the tech-heavy benchmark.
The failed breakout above 30,000 raises questions about near-term momentum for the Nasdaq-100, which had opened with conviction before sellers stepped in. Traders will watch whether the index can reclaim the 30,000 level in the coming sessions or if the rejection signals further downside.
This article is for informational purposes only and does not constitute investment advice.
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