US stocks trade to lows for the day

The major US stock indices are trading to lows for the day. The Dow industrial average is leading with a decline of -1%. The declines are led by Travelers, Amazon, Walt Disney.

The low for the tail reached 41891.81. Earlier, the price fell below its 100 hour moving average of 42071.77. The low price from last week reached 41837.07 and is a next target.

The S&P index is also trading lower and trading to new session lows. The current price is down -0.76% at 5707.41. That has taken the price below its 100 hour moving average of 5712.14. Stay below that moving average level would tilt the technical bias to the sellers in a short-term. The next target comes against the low from last week at 5673.99. The low price today has reached 5699.52.

The NASDAQ index is also taking a peek below its 100-hour moving average of 17987.51. It fell to a low of 17970.59 but is bouncing modestly. It is currently down -144 points or 0.79% and 17995.70.

• Meta Platforms (Facebook), -1.49%
• Apple, -1.53%
• Microsoft, -1.09%
• Alphabet (Google), -1.94%
• Amazon, -2.97%
• Tesla,-3.09%

Meanwhile, Nvidia is blocking the trend with a gain of 3.81%. Super Micro Computer is trading up 15.57% is a company said they are currently shipping more than 100,000 graphic processors per quarter and unveiled a new suite of liquid cooling: products..

Yields are steady with the:

• 2-year 3.986%, +5.5 basis points
• 5-year 3.856%, +4.3 basis points
• 10 year 4.015%, +3.5 basis points
• 30 year 4.296%, +2.8 basis points

This article was written by Greg Michalowski at www.forexlive.com.