Technical Analysis

Major indices close lower for the 3rd straight day

Major indices recover off session lows

The major indices close lower for the 3rd straight day. However the indices closed well off there lows for the day.

Highlights include

  • S&P and NASDAQ on track for weekly gain
  • Dow on track for its 1st losing week in 3 weeks
  • Healthcare was the worst sector while energy was the strongest
  • The Dow was down -332 point at the low
  • The S&P index was down -47.78 points at the lows
  • The NASDAQ was down -219.63 points
  • S&P and NASDAQ close 3% below its all-time high
  • Dow closes 4% below its all-time high
  • Dow is still negative on the year (-0.16%). The NASDAQ is up 30.55% while the S&P is up 7.82% year-to-date. 

The final numbers are showing:

  • the S&P index fell -5.33 points or -0.15% at 3483.34. The high price reached 3489.08. The low price extended to 3440.89
  • the NASDAQ index fell 54.858 points or -0.47% at 11713.82. The high price reached 11740.68. The low price extended to 11559.10
  • the Dow industrial average fell -19.8 points or -0.07% at 28494.26. The high price reached to 28535.85. The low price extended to 28181.54.

In the European markets today, the major indices move lower with the Italy FTSE MIB down -2.77%. The Spain’s Ibex was the least hit at -1.44%. The German DAX fell by 2.49%

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