The House and Senate both passed a final version of their much-hailed tax reform legislation, but the market didn’t seem too impressed. A strong gap-up open faded into the end of the day as the major market indexes sold off on lighter volume.
Objectively speaking, and setting all the political hyperbole and rear portal talking aside, the NASDAQ Composite Index pulled in today and filled the “rising window” formed by Monday’s gap-up move to all-time highs. Volume dried up as the index found support off the lows, but it stilled closed in the lower half of its daily trading range as it stalls off the highs.
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