Dow down -300 points. Nasdaq down -100 points

The Dow Industrial Average is now down around 310 points on the day or -0.90% at 34990. Looking at the hourly chart, the price is testing/breaking below its rising 200-hour moving average of 35007.64. Move below – and stay below the level with momentum – would increase the bearish bias.

Looking at the Dow 30,

  • Dow is down -3.07%
  • Caterpillar is down -2.52%
  • Chevron is down -2.4%
  • American Express is down -2.36%
  • J.P. Morgan is down -2.29%

Of the 30 Dow stocks, only 4 are positive:

  • Amgen, +1.75%
  • Home Depot, +0.55%
  • Johnson & Johnson +0.35%
  • Microsoft +0.07%

The NASDAQ index is down 111.12-0.81% at 13676.27. The S&P index is down -41.2 or -0.92% at 4448.52.

All 3 indices have not traded in positive territory today

  • Dow Industrial Average was at best -88.27 points
  • S&P was at its best at -10.84 points
  • NASDAQ index added to best was a down -13.36 points.

Interest rates are mixed with the shorter and lower and the longer and higher:

  • 2 year yield 4.937%, -2.8 basis points
  • 5 year yield 4.347%, -0.8 basis points
  • 10 year yield 4.195%, +1.3 basis points
  • 30 year yield of 4.305%, +2.4 basis points

This article was written by Greg Michalowski at www.forexlive.com. Source