Four day win streak for stocks in jeopardy. Major indices open lower.

Technical Analysis

Author: Greg Michalowski | sp

Nasdaq lead the way

The 4-day higher close string for stocks is in jeopardy today.  The major indices are opening with declines with the Nasdaq leading the way:

  • S&P index -17.8 points or -0.69% at 2567.29
  • NASDAQ index -60 points or -0.87% at 6896.73
  • Dow industrial average -130 points or -0.53% at 23754
In the US debt market the yield curve is steeper today with short end lower and the 30 year up about 1 bp.

A snapshot of other markets, shows:
  • spot gold $-1.65 or -0.13% at $1291.98
  • WTI crude oil futures $-.60 or -1.13% at $51.78
  • Bitcoin is back below the $4000 at $3777. The move has taken the price below the 100 and 200 hour MAs at $3983 and $3900 respectively.
The AUD is the strongest still. The CHF has taken over the weakest from the GBP.  Resistance at the 0.9795 is trying to stall the rally in the USDCHF in early NY trading.

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