Major indices close lower but off there lowest levels

Technical Analysis

Author: Greg Michalowski | sp

Dow, S&P, NASDAQ close below their 50 day moving averages

The rise to record Covid cases and the inability to reach a coronavirus stimulus deal has led to a sharp fall in the major indices to start the week. 

The good news is that the prices are closing off there lowest levels.  Some highlights include 
  • Each of the major indices close below their 50 day moving averages
  • Dow industrial average was down -965 points at its worst level. The NASDAQ index was down -327 points and the S&P index was down -100 points at the lows
  • S&P 500 at its worst day since September 23
  • All 11 sectors of the S&P closed in the red
  • NASDAQ closed lower for the 7th time in 10 days
The final numbers are showing:
  • S&P index -64.45 points or -1.86% at 3400.94
  • NASDAQ index -189.34 points or -1.64% at 11358.93
  • Dow industrial average -649.86 points or -2.29% at 27685.73

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