The major stock indices are open lower to start the week

Technical Analysis

Author: Greg Michalowski | sp

Off lowest pre-market levels. 

the US stocks are getting off to a bad start for the week. The NASDAQ index is down over 1.2% and down for the 4th time in 5 days. The S&P index is down for the 5th day and has not been down for that many consecutive days since February 2020.

A snapshot of the market currently shows:
  • S&P index -31.23 points or -0.8% at 3875
  • NASDAQ index down -198 points or -1.43% at 13676
  • Dow industrial average -200 points or at -0.65% at 31290
Price action is very volatile since the opening.

In other markets
  • spot gold plus $16.70 or 0.95% 1008 $1.31
  • WTI crude oil futures up $1.36 or 2.31% at $60.63
  • Bitcoin is very volatile and currently trades at $52,135. The low price just reached $46,616 less than 30 minutes ago
The forex market, the NZD is the strongest while the CAD is now the weakest of the majors. The USD is weaker since the US open with most of the declines against the NZD and AUD. The pair is also down now verse the EUR, GBP and JPY.  It remains higher verse the CAD and is unchanged verse the CHF.

Off lowest pre-market levels. 
In the US debt market, yields are off the highest levels

US yields are off the highest levels
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