Stocks a little change in early US trading with the major indices trading above and below unchanged.
The snapshot of the current market shows:
- Dow industrial average up nine points or 0.03% at 35505
- S&P index up three points or 0.06% 4652.89
- NASDAQ index -8 points or -0.06% 15332.72
- Russell 2000-2.9 points or -0.14% the 2199.96
Looking at the NASDAQ index, it is up retesting is 100 hour moving average at 15341.57. If the price can get above that moving average level and the subsequent 38.2% retracement of the move down from the November 22 high at 15376.58, it would give the buyers a little more comfort. So far however, the 100 hour moving averages providing a formidable resistance level.
In other markets as US stock trading gets underway shows:
- Spot gold trading up $3.24 or 0.18% at 1791.60
- Spot silver is up $0.13 or 0.58% $22.62
- WTI crude oil futures are trading up $0.17 at $71.29
- Bitcoin is trading at $48,849
In the US debt market, yields have moved further to the downside with the 30 year down -3.8 basis points and the 10 year down -3.0 basis points.
In the forex market, the AUD remains the strongest and the JPY remains the weakest. The US dollar is also lower with the exception of a modest gains versus the JPY.
