Stocks move lower as hopes for stimulus fade

Technical Analysis

Author: Greg Michalowski | sp

NASDAQ continues to lead the way lower

The major indices are all lower on the day. The declines today would be the 2nd consecutive down day after 4 days to the upside. The NASDAQ index is leading the way to the downside with a -0.80% decline.  The index is trading to new session lows

Treasury Sec. Mnuchin speaking at a Milkin Inst. global conference, tried to put forth a positive light on stimulus talks,  but also said that getting something done before election is difficult and on certain issues, stimulus talks are still far apart.

A snapshot of current markets shows:
  • S&P index -20.11 points or -0.57% at 3491.92. The low price just reached 3489.50
  • NASDAQ index -94 points or -0.80% at 11769.89. That is just off the new lows
  • Dow industrial average -139 points or -0.469% at 28543.

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