Major US stock indices are opening lower

it’s 100 day moving averages at 13480.63

The major US indices are opening lower to start the trading week. A snapshot of the market currently shows:

  • Dow industrial average down -115.66 points or -0.34% at 33848.19
  • S&P index -13.59 points or -0.31% at 4306.46
  • NASDAQ index -48.08 points or -0.38% at 13163.73

Technically, the major indices are all below their 100-day moving average, and moving away from those moving averages.

  • For the Dow industrial average, it’s 100-day moving averages at 34269.34. The price is approaching its 200-day moving average at 33809.45
  • For the S&P index it’s 100-day moving averages at 4378.75. The price is testing its 38.2% retracement of the move up from the March 13 low at 4302.45. It’s a 200-day moving average is down at 4192.74. There are a lot of rumblings about the S&P index heading down toward the 200-day moving average on this corrective move.
  • For the NASDAQ index, it’s 100 day moving average is up at 13480.68. The price is moving toward the 38.2% retracement of the move up from the March 13 low. That level comes in at 13123. Below that the 50% comes in at 12714, while the 200 Day Moving Average is down at 12480.17.

This article was written by Greg Michalowski at Source