S&P retests its 200-day moving average
The S&P Index and the Dow Industrial Average are now trading positive. The NASDAQ index has also erased most of its declines and is trading near the day’s highs.
For the S&P index, it is trading just off its 200-day moving average at 4491.73. Yesterday, the index price closed below this moving average for the first time since March 23rd. If the price can get back above it, it would tip the bias to the upside.
A snapshot of the market currently shows:
- Dow Industrial Average up 26.54 points or 0.03% at 34,519.30
- S&P index up 7.75 points or 0.18% to 4489
- NASDAQ index down 34.72 points or -0.25% to 13854.
At the lows of the session,
- The Dow Industrial Average was down -305.56 points or -0.89%
- The S&P index fell -30.65 points or -0.68%
- The NASDAQ index fell by -199.59 points or -1.44%
The main indexes have been falling for two consecutive days. Meanwhile, the S&P fell -2.2% while the NASDAQ index fell -4.4% from Monday’s closing levels.
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