As the stock market moves toward the close at the top of the hour, the three major indices are below their 200 day moving averages:
- Dow Industrial Average fell below its 200 day moving average of 32392.57. It currently trades at 32321.35. The Dow Industrial Average is now well below its closing level from 2022 at 33147.26.
- NASDAQ index also fell below its 200 day moving average at 11403.89. It currently trades at 11361.68. The 100 day moving averages down at 1128.49
NASDAQ index is below its 200 day moving average
- S&P index fell below both its 100 and 200 day moving averages today both those moving averages are near converged at 3942. The price currently trades at 3926.61.
Those are three bearish moves for the major stock indices today. Of course, the US employment report will be a key fundamental piece to the story tomorrow. Market traders are going into that release thinking the worst.
This article was originally published by Forexlive.com. Read the original article here.