The major US stock indices are opening with mixed results. The Dow Industrial Average is lower while the S&P and NASDAQ indices are higher. A snapshot of the market currently shows:
- Dow Industrial Average -110 points or -0.30% at 37356
- S&P index +11.77 points or 0.25% at 4709.01
- Nasdaq index up to 70.10 points or 0.48% at 14594
The small-cap Russell 2000 is trading down -1.42 points or -0.08% at 1949.60.
Technically, the NASDAQ index is looking to test it 200-hour moving average at 14609.05 (see green line on the chart above). A move above that level (and staying above) would take some of the bearishness out of the shorter-term bias.
Apple is moving higher today after five days of declines on a few analyst downgrades last week. Technically, the price on Friday tested its 100-day moving average at $180.10. The low price reached $180.12 and bounced. The price is currently moving back above its 100-day moving average at $182.37 with a price trading at $182.82 currently.
Shares of Boeing are down $21.62 or -8.72% at $227, after the door blew off in midflight over the weekend grounding 737 Max claims by the FAA. Shares of Boeing in December moved to the highest level since March 2021 at $267.22 before correcting lower with the market’s decline at the beginning of the trading year. The 100 and 200-day moving averages are centered around $214 currently and would be a downside target on further momentum.
This article was written by Greg Michalowski at www.forexlive.com. Source