Nasdaq falls toward 100 day MA. S&P moves toward 50 day MA

Technical Analysis

US yields are lower

The Nasdaq fell below its 50 day moving average earlier today at 8052.07.  It is quickly approaching its 100 day moving average at 7964.056. The low reached 7991.335 so far. The NASDAQ is down -112 points currently.

The S&P index in contrast still remains above its 50 day moving average that level comes in at the 2950 level. The low for the day has so far reached 2963.49 (see white line in the chart below).

S&P index

In other markets,

  • spot gold is up $11.40 or 0.74% at $1533.48
  • WTI crude oil futures are down $1.10 or -1.80% of $57.54

In the treasury market ahead of the two year note auction at the top of the hour yields are sharply lower with 10 year down 7.9 basis points at the moment.

US yields are sharply lower

IN the forex market, the USD is now the weakest of the majors.  

The USD is the weakest

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