US stocks give up gains as stocks move toward the close

Technical Analysis

Author: Greg Michalowski | sp

Dow and S&P negative on the day

The Dow and the S&P has moved into the red, giving up it's gains on the day. The Nasdaq is holding onto a small gain of about 4 points.  

Dow and S&P negative on the day
For the S&P, the index fell below a lower trend line on the hourly chart at 2834. Stay below is more bearish. The low for the week comes in at 2821.99 and the 50 hour MA comes in at 2810.62.  Both are targets on more weakness.  

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