The major US indices are remaining in negative territory although they are off their lowest levels and trading near their highest levels. Nevertheless the S&P index is in jeopardy of snapping it nine-day win streak. The NASDAQ index is the weakest today but only by -0.37%.
Since bottoming on April 21 at 4835.04, the S&P index reached a high on Friday at 5700.70 or 11.74% from the low. The current price is at 5669.1 or -17.67 points or -0.31%.
Technically, the price last week moved above its 50-day moving average currently at 5575.88. It would take a move below that moving average to disappoint the buyers. On the top side, the next target comes against its 200 day moving average at 5746.41.
Looking at the other major indices:
- Dow industrial average is up on the day by 40 points or 0.10% at 41357.35
- NASDAQ index is down -62 points are -0.35% at 17915.59.
In the European equity markets today, the major indices were mixed:
- German DAX, +1.12%
- Francis, -0.55%
- UK’s FTSE 100, +1.17%
- Spains Ibex, +0.53%
- Italy’s FTSE MIB +0.39%
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