Stocks open lower for the 3rd straight day
Last week saw the Dow, S&P and Nasdaq trading to new all time highs. The market has opened lower. If we close lower it will be the third straight day in the red.
The snapshot of the major indices are showing:
- S&P index, -9.28 points or -0.31% at 2966.67
- NASDAQ index -22.507 points or -0.28% at 8075.87
- Dow -97.49 points or -0.36% at 26708.65
Looking at the S&P index, the index still remains above its 50 hour moving average (white line in chart below). That MA comes in at 2959.39. The low for the day has reached 2963.44 so far. Stay above that MA, is still more bullish overall. A move below is a chink in the bullish armour.