The NASDAQ index led the declines in trading here today for the second consecutive day. Investors continue to lighten up on the tech/chip stocks.
Nvidia fell -2.05%Meta fell -1.37Alphabet fell -1.71%Broadcom fell AMD fell -3.21%Super microcomputers fell -6.26%.Palo Alto networks-5.69% Taiwan Semi conductors fell -3.03%Palantir fell-2.39%General Motors and Ford Motor Company also fell on increased tariff
Looking at the major indices
Dow industrial average fell minus 155.09 points or -0.37% at 42299.70.S&P index fell -18.89 points or -0.33% and 5693.31.NASDAQ index fell -94.90 points or -0.53% at 17804.03.Russell 2000 fell -8.13 points or -0.39% at 2065.69.Both the broader S&P 500 and NASDAQ indices remain above their respective 100-hour moving averages, but they continue to trade comfortably below their 200-hour moving averages—signaling a market that’s holding on, but still under pressure.
For the NASDAQ, the 100-hour moving average is at 17,738.33, while Thursday’s close landed at 17,804.03, just 66 points above that support level. The 200-hour moving average remains well above at 18,402.06, about 600 points away, highlighting the distance bulls need to cover to reclaim stronger technical footing.
The S&P 500 also holds above its 100-hour moving average, currently at 5,657.45, with Thursday’s close at 5,693.00—a 36-point cushion. Its 200-hour moving average is up at 5,802.97, still 109 points away.
If markets see another down day Friday, both indices risk closing the week below their 100-hour moving averages, which would mark a technical shift in favor of sellers heading into next week.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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