The major US stock indices are ending the day with mixed results. The Dow industrial average closed modestly higher helped by a surge in UnitedHealth. Its shares rose $23.26 or 5.22% to $468.89. The S&P and NASDAQ index both fell modestly.
A snapshot of the market closes shows:
- Dow industrial average rose 63.84 points or 0.17% at 37798.98
- S&P index fell -10.41 points or -0.21% at 5051.40
- NASDAQ index fell -19.77 points or -0.12% at 15865.25.
The small-cap Russell 2000 was the worst performer with a decline of -8.23 points or -0.42% at 1967.47.
Technically looking at the S&P index, the low prices seen this week stalled near the 38.2% retracement and swing area between 5042.24 and 5056.92. Holding support against that level keeps the buyers in play. Moving below the 5042.24 level going forward, would likely lead to more selling/corrective momentum.
This article was written by Greg Michalowski at www.forexlive.com. Source