The major US indices are all closing lower on the day. The declines are led by the S&P index which is closing down over 1%. The Dow industrial average is down around -0.8%.
Intel is the worst performer in the Dow after a report that they may miss on 2Q earnings. Intel shares a down -5.3% on the day
Although lower, the major indices are remaining in a sideways pattern that started on May 27. All 3 major indices are also still above their 200 hour moving averages keeping a modest bullish bias in the short-term. The final numbers are showing:
- Dow industrials Average fell -269.24 points or -0.81% at 32910.91
- S&P Index fell -44.89 points or -1.08% at 4115.78
- Nasdaq index fell -88.95 points or -0.73% at 12086.28
- Russell 2000 index fell -28.55 points or -1.49% at 1891.00
The 200 hour moving averages for the major indices are currently at
- Dow industrial average 32520.90
- S&P index 4062.85
- NASDAQ index 11913.46
Moving back below those moving averages would tilt the bias back toward the negative/bearish side. Stay above and the shorter-term bias remains in the direction of the buyers
