Dow is modestly lower

The S&P and NASDAQ index has turned back positive after trading lower for most of the morning. Both the S&P and NASDAQ are taking to new session highs. The Dow is modestly lower.

  • S&P index is up seven points or 0.18% at 3947.75
  • NASDAQ index is up 19 points or 0.14% at 13397
  • Dow is down 11 points or -0.03% 32721

Looking at the NASDAQ hourly chart, the index moved up to test its 200 hour moving average yesterday (green line in the chart below). That moving average currently comes in at 13441.41. A move above that moving average would tilt a bias more to the upside. Last week the index moved above it on Tuesday and Wednesday. On Wednesday the price closed above the moving average for the first time since February 19. However the next day the opening gapped lower.

Nasdaq moves back toward 200 hour moving average