Nasdaq 100 backs away from new all time high at 16,920

The US stock markets did not all actually open higher this afternoon. The Dow Jones resumed live trading at 37,518 after closing last night at 37,545. The Nasdaq 100 did resume live trading on the front foot though, at 16,896, from a record close last night at 16,878. So, it was a record opening level for the index this afternoon. It traded to set a new all time high earlier, at 16,920. However, it has backed away from that high now and as I write it is falling back underneath the level at which it reopened today and where it closed last night. That is not particularly positive right now, unless it can reclaim the upside later this afternoon and ahead of the close. If the index were to close below 16,878 tonight, then it could set in place another of those outside day reversal patterns, from what would be a new all time record high. Of course there is a long way to before the close tonight, so that is by no means a certain outcome yet. The Nasdaq 100 is currently trading at 16,873