As the day works toward the close, the major US stock indices have turned into negative territory:
- Dow Industrial Average is down 61 points or-0.18% at 34000.61
- S&P index is down -9.36 points or -0.21% of 4349.01
- NASDAQ index is down -22.71 points or -0.71% at 13455.90
All 3 major indices or trading between their 200 day moving average below and 100 day moving average above. Each are also above their 50 day moving average.
- Dow industrial average has its 100 day moving average at 34268.04
- S&P index is just above its 50-day moving average at 4346.54, but below its 100 day moving average of 4403.07
- NASDAQ index is above its 50-day moving average at 13422.12, but below its 100-day moving average at 13617.84
Moving back below the 50-day moving averages would weaken the bullish bias
This article was written by Greg Michalowski at www.forexlive.com. Source