US stocks trade lower and erase some of the gains from yesterday

Yesterday:

• Dow Industrial Average rose 0.58%
• S&P index rose 1.41%
• Nasdaq index rose 2.20%

Today, all or some of those gains have been erased. A snapshot of the market currently shows:

• Dow Industrial Average -287 points or -0.76% at 37396
• S&P index -30.01 points or -0.63% at 4733
• Nasdaq index -119 points or -0.81% at 14724

US rates are marginally higher now and trading near lows. Will stocks notice?

So far, the bias remains more negative.

Technically, the S&P index moved back above its 100 hour moving average at 4745.99. The price is back below that level in early US trading.

The Nasdaq index state below its 100 hour moving out of 14877.05. The high price reached 14846. Today the sharp move lower at the open is moving the index back toward the middle of the 200 hour moving out at 14627 and the 100 hour moving average at 14877.