The major indices are opening with declines after sharp gains over the last few days. The Dow and S&P are on a 4 day up streak. The Nasdaq has been up for 2 consecutive days that saw the price move up about 2.9%.
The snap shot of the market shows:
- Dow industrial average -25 points or -0.07% 35271.65
- S&P index -9.26 points or -0.16% at 4622.53
- NASDAQ index -62 points or -0.42% at 14558.14
- Russell 2000 is down 6.05 points -0.28% up to 127.26
Technically, the
- Dow industrial average closed above its 100 day moving average for the first time since February 9 yesterday. That moving average currently comes in at 35081.55. Will back below it and the 200 day moving average at 34988.60 will be targeted.
- S&P index closed above its 100 day moving average for the second consecutive day yesterday. That was the first multi-day close above the moving average since mid January. The 100 day moving average comes in at 4545.24.
- NASDAQ index moved up to test its falling 100 day moving average, but found sellers against the level yesterday. The moving average currently comes in at 14634.96. It would take a move above that level followed by the 200 day moving average at 14729.38, to increase the bullish bias.
