NASDAQ on track for is fourth straight day of gains

Technical Analysis

Author: Greg Michalowski | sp

There just sort of off balance all day long Dow Jones its worst day since August 26

The NASDAQ is on track for its fourth straight day of gains. The index is currently up 30.51 points or 0.2% at 15393.73. The gain would be the indices fourth straight day of gains. It would also be an all new time high closing price.  The high price today reached 15343.28. The low price extended to 15403.44.

The Dow industrial average meanwhile is down over 200 points. The current index is down -213.66 points or -0.60% at 35155.27. It's high price reached 35326.06. The low price was at 35060.90. At the low, the price got within about 50 points to its 50 day moving average at 35009.91. Back on August 19, the price tested that 50 day moving average only to find dip buyers. The last time the price traded below the 50 day moving average was back on July 19th in July 20. On July 19, the price moved close to its 100 day moving average (blue line in the chart above) but found dip buyers. The price of the Dow has not traded below its 100 day moving average since November 4, 2020.

There just sort of off balance all day long _Dow Jones its worst day since August 26
The broad S&P index is down -14 points or -0.30% at 4521.  The index closed just below new record levels on Friday.  With the decline today, the index is moving further away from the record.  
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