Nasdaq stocks hitting new 52-wk. highs declines for 2nd-straight day, despite earlier gain and Wednesday’s rally

Although the Nasdaq Composite COMP, -0.28% rose as much as 0.1% in intraday trading before reversing to drop 0.3%, but the number of stocks reaching new 52-week highs in intraday trading has continued to decline. In morning trading, 27 stocks reached new highs. On Wednesday, the Nasdaq surged 3.6%, but the number of new highs fell to 52 from 72 on Tuesday. Stocks hitting new lows numbered 5 on Thursday, the same as Wednesday, but less than the 10 new lows on Tuesday. Meanwhile, the S&P 500 SPX, -0.92% fell 0.6% on Thursday after running up 2.7% on Wednesday; new highs fell to 19 from 31 on Wednesday and 40 on Tuesday.

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