US stocks recover and closing near session highs

Technical Analysis

Dow industrial average is down -211 points at lows and closes at up 36 points

The US stocks recovered after the FOMC signaled a 25 basis point cut, but dot plot showed no additional eases for 2019. However, Powell did say enough in his press conference to suggest that the view can change given global risks and potential weakness. As a result, the major indices start recover and are ending the session near/at session highs.

The levels at the close are showing:

  • S&P index +1.01 points or 0.03% at 3006.71.  The S&P was down -27.13 point at its lows.
  • NASDAQ index down -8.625 points or -0.11% at 8177.39. The NASDAQ was down -100 points at its lows
  • Dow industrial average up 36.35 points or 0.13% at 27147.29. The Dow was down -211 points at its lows

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