Major indices open higher. Retracing some of the declines from Friday

Technical Analysis

Author: Greg Michalowski | sp

There is still some upside caution after 5 days down in the Dow and S&P

The S&P and Dow have been down for five consecutive days. The NASDAQ is on a three-day losing streak.  Today the major indices are higher, but there is some caution given recent price action.

A snapshot of the market currently shows:
  • Dow industrial average up 204 points or 0.59% at 34811.90 . The Dow fell -271 points on Friday
  • S&P index is up 24.68 points or 0.57% at 4483.87. The S&P index fell -34.7 points on Friday
  • NASDAQ index is up 41.66 points or 0.28% at 15158. That index fell -132 points on Friday.
A look around the markets as your trading gets underway in the equity markets:
  • Spot gold is up $3.18 or 0.18% at $1790.61.
  • Spot silver is down $0.21 or -0.89% at $23.52
  • WTI crude oil futures are trading up $0.82 or 1.19% at $70.56
  • Bitcoin is down $228 and $45,976. That is off the session lows after reports at Walmart will accept Litecoin as payment for goods
Looking at the US debt market, the yields remain lower with the 10 year down -1.4 basis points and the 30 year down -1.9 basis points.

US yields are lower
In the forex market, the CAD is the strongest while the CHF remain the weakest. The US dollar has come off it's higher levels in early NY trading.

The US dollars come off it's highs

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