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breaking news Major U.S. stock indices close lower for the day, lower for the week

Major US stock indices end the day lower led by the NASDAQ index which fell 2.4%

For the shortened trading week, the indices fell on 3 of the 4 trading days. After breaking a 7-week decline in the S&P and the NASDAQ index ending an 8-week decline in the Dow Jones Industrial Average, the major indexes were all down this week.

Final figures show:

  • The Dow Industrial Average fell -348.58 points or -1.05% to 32,899.71
  • The S&P index fell -68.26 points or -1.63% to 4108.55
  • The NASDAQ index fell -304.15 points or -2.47% to 12012.74
  • Russell 2000 fell -14.62 points or -0.77% to 1883.05

For the trading week

  • The Dow Jones industrial average fell -0.94%
  • The S&P index fell -1.19%
  • The NASDAQ index fell -0.98%
  • The Russell 2000 Index fell -0.25%

Technically, the NASDAQ index after trading below its 200 hourly moving average (green line in the chart below) earlier in the session, closes above the lower level (currently at 11971.16 ). Traders will watch this moving average level next week as a bullish and bearish barometer.

The NASDAQ index closes just above its 200 hourly moving average

The S&P and the Dow Industrial Average are also above their 200-hour moving averages:

  • For the S&P, the index is at 4072.43
  • For the Dow Industrial Average, the 200-hour moving average is currently at 32581.47

Next week, these moving averages will be in play and will be used to define the short/medium term bias. Staying above is more bullish. The move below is more bearish.


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