The major US indices are all closing lower. For the S&P the index is down for the fourth consecutive day. For the NASDAQ, the index is down for the third consecutive day for the Dow industrial average it has fallen three of the last four trading days.
Both the broader S&P and Nasdaq indices traded below their 200 hour MAs today, but both indices could not sustain momentum below those MAs (and are closing above the MA levels).
- For the Nasdaq, the 200 hour MA came in at 11012.24. The intraday low reached 10956.20. The price is closing above that level at 11014.90. That is down -225.04 points or -2.00%
- For the S&P, the 200 hour MA came in at 2920.34. The low reached just below that level at 2918.22. The price is closing above that level at 3941.22. That is down -57.61 or -1.44%
- For the Dow, the index approached its 200 hour MA at 33341.12, but fell short with an intraday low at 33418.59. The late day rally took the closing level up to 33596.52. That is still down -350.61 points or -1.03%.
Meta was a big loser with a decline of -$8.35 or -6.82% at $114.08
Energy got hit today as oil prices reached the lowest level this year. The index fell -2.65% on the day. Communications fell -2.56%. The information sector fell -2.14%. The only gainer among the 11 S&P sectors, was Utilities which rose 0.66%.
