The market action today was pretty ugly as the indices across the board ended the day well in the red.

The NASDAQ and S&P 500 both finished down about 1.8% on heavier volume, closing near their intraday lows.

The headlines read that the market sold off because Oil hit a record high of nearly $124 per barrel, but that is hard to believe. Oil all this week has been jumping in price, so why didn’t bears take control on Monday or Tuesday?

Here is a daily look at the NASDAQ below. Personally I am unsure what to make of this movement. Should be an interesting session tomorrow.

Sean Hannon’s weekly market commentary is coming up next. See you then.

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