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Stocks resume trading after New York Stock Exchange tech issue

Yahoo Finance Live’s Jared Blikre breaks down how stocks are moving in intraday trading.

Video Transcript

[AUDIO LOGO]

BRAD SMITH: Welcome back to "Yahoo Finance Live" this morning, everyone. Major averages fractionally lower across the board for more on today's tape. Let's get on over to Jared Blikre at the YFi Interactive. Hey, Jared.

JARED BLIKRE: I had a whole spiel planned here but we got to focus on some trading glitches at the New York Stock Exchange. We had some price halts, some volatility halts on the open. Let me just show you, Walmart is now trading normally. But that was not the case just a few seconds ago. This is an intraday chart. Let me put it on the two-day chart.

You can see on the open, it spiked up here. It was about 8% on my quote board. And then it was frozen, it looks like some kind of halt. And now it's trading back. So we don't know if those trades are going to be DKed, that is erased from existence or if they're going to stand.

McDonald's was another ticker. We saw some meme stock action, some of the meme stocks. But it looks like things are kind of settling back to normal here. So let me just get to the market breakdown.

As Brad was just saying, things in the red today giving up some recent gains. Yesterday was a key day in the S&P 500 because it broke to a multimonth high and it's at a critical level right now. So far today, we're seeing a little bit of negative price action. Energy and industrials leading to the downside, along with materials to the upside. It looks like the three megacap sectors are the least worst off.

But let me just show you what's going on here in the indices and see if we can try and make sense of what's going on here. In terms of the larger picture, this is the two-year look at the S&P 500. Just want to draw this trend line all the way down. We are now just barely, barely breaking out of this.

You take a look at the NASDAQ, it is a very similar story here. Although it is much farther down in the lower end of its range. Suffice to say that the market could break up from here or it could turn down. Now, if it breaks to the upside, I've been saying that the Dow is no longer leading the NASDAQ. I would expect the pain trade to be in tech stocks to the upside. And that's if rates even go up.

Now, if rates really do something drastic then we'll probably see stocks roll over. And in that case, all bets are off. But bottom line, I think the major indices at a major decision point right here.

BRIAN SOZZI: Jared Blikre, thanks so much. Appreciate it.