Dow Industrial Average is a testing at 200 hour MA
The Dow Industrial Average is now down around 310 points on the day or -0.90% at 34990. Looking at the hourly chart, the price is testing/breaking below its rising 200-hour moving average of 35007.64. Move below – and stay below the level with momentum - would increase the bearish bias.
Looking at the Dow 30,
- Dow is down -3.07%
- Caterpillar is down -2.52%
- Chevron is down -2.4%
- American Express is down -2.36%
- J.P. Morgan is down -2.29%
Of the 30 Dow stocks, only 4 are positive:
- Amgen, +1.75%
- Home Depot, +0.55%
- Johnson & Johnson +0.35%
- Microsoft +0.07%
The NASDAQ index is down 111.12-0.81% at 13676.27. The S&P index is down -41.2 or -0.92% at 4448.52.
All 3 indices have not traded in positive territory today
- Dow Industrial Average was at best -88.27 points
- S&P was at its best at -10.84 points
- NASDAQ index added to best was a down -13.36 points.
Interest rates are mixed with the shorter and lower and the longer and higher:
- 2 year yield 4.937%, -2.8 basis points
- 5 year yield 4.347%, -0.8 basis points
- 10 year yield 4.195%, +1.3 basis points
- 30 year yield of 4.305%, +2.4 basis points