The S&P 500 opened 5 points lower after the 30 point jump to a record high close at 1810 yesterday. The intraday high for the index of 1813 was set on November 29.
S&P 500 daily chart
There was surely an element of of confusion, momentum and a short-squeeze yesterday because the taper isn’t good news for the stock market. The key will be watching the bond market after 10-year yields hit 2.95% today. Stocks will feel a strain on a break of 3%.