Indices still up but prices falling.
The major US indices are melting away the profits as the Moderna news and the lack of positive news from the McConnell/Pelosi meeting took the winds out of the bulls sails.
A snapshot of the market still shows profits across the board in the major indices, but the changes nearer the lows for the day. The snapshot shows:
- S&P index, up 0.72%
- NASDAQ index, also up 0.72%
- Dow industrial average, up 1.06%
Looking at the NASDAQ hourly chart, the price has moved back below the 200 hour MA at 11210.09. Traders will be watching that level going forward. Stay below would keep a negative tilt on the market.
