Dow and S&P erase losses. Nasdaq pares declines

Both the S&P index and Dow industrial average are now trading positive. The NASDAQ index has erased most of its declines as well and trades near highs for the day.

For the S&P index it is trading right near its 200 day moving average at 4491.73. Yesterday the price of the index closed below that moving average for the first time since March 23. If the price can get back above, that would tilt the bias to the upside.

A snapshot of the market currently shows:

• Dow industrial average up 26.54 points or 0.03% at 34519.30
• S&P index up 7.75 points or 0.18% at 4489
• NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term index down 34.72 points or -0.25% at 13854.

At session lows,

• Dow industrial average was down -305.56 points or -0.89%
• S&P index was down -30.65 points or -0.68%
• NASDAQ index was down -199.59 points or -1.44%

The major indices have been down for two consecutive days. During that time the S&P fell -2.2% while the NASDAQ index fell -4.4% from the closing levels on Monday.