The broader US stock indices fell. The NASDAQ index has fallen three of the last four days. The S&P index has fallen four straight days.
Today's fall to session lows saw the S&P move below its 100-hour moving average and briefly below its 200-hour moving average. However, a late day rally did see the price move back above both. The price for the S&P closed at 6395.78 above the 100-hour moving average at 6382.43.
For the NASDAQ index, at session lows the index was down -408.96 points. Its move to the downside saw the price tumble below its 200-hour moving average at 21140.02. The low price reached 20905.99. However, like the S&P, the late-day rally has taken the price back higher, and the index is closing above its 200-hour moving average. The closing level is 21170.19.
A snapshot of the closing levels shows:
Dow industrial average +16.04 points or 0.04% at 44938.13S&P index -15.59 points or -0.24% at 6395.78.NASDAQ index -142.10 points or -0.67% at 21172.86.A deeper negative technical close was ultimately avoided. Sellers had their chance, but momentum failed to extend lower. The major indices remain near key moving averages, leaving the door open for a renewed push to the downside tomorrow. For now, though, the close wasn’t as damaging as it could have been, and the potential for corrective upside remains very much in play.
This article was written by Greg Michalowski at investinglive.com.Hence then, the article about major indices close lower but the recovery into the close takes away some bearishness was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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