The broader US stock indices are getting it ahead of the earnings after the close including Microsoft and Alphabet. The NASDAQ index is leading the way with the decline of -124 points or -0.80% at 15504.51.
The S&P index is now down -11 points or -0.22% at 4917.03.
The Dow Industrial Average remains higher by 26.41 points or 0.07% at 38361
Yesterday both the Dow and S&P closed at recorded levels.
After the close Alphabet and Microsoft will report earnings (for expectations click here). Also scheduled to report after the close is a Starbucks and Juniper networks.
Tomorrow, Boeing, Qualcomm, Boston Scientific and MasterCard are scheduled to report. On Thursday, Amazon, Honeywell, Apple, Met and Merck will release. At the end the week, Chevron, Exxon Mobile, Cigna and Bristol Meyers Squibb will all report.
Looking at the S&P hourly chart, the rising 50 bar moving average is at 4879.58. Above that target, is a swing area between 4896.79 and and 4906.69. Move below each would start to tilt the short term technical bias to the downside.