The NASDAQ index is moving lower for the fourth consecutive day. The price has moved below its 100 day moving average at 19212.78 in the process. The current price is down -147 points or -0.77% at 19138.56.
The move to the downside yesterday and again today is interesting because the declines came after some bullish comments from Pres. Trump in regard to a minerals deal with Ukraine forthcoming (on the 1 yard line according to Treasury Secretary Bessent) and talks of peace between Russia and Ukraine. Russia’s Putin even chimed in with hopeful comments.
The cynic in me wonders if the headline manipulation from Pres. Trump has run its course? Peace talks did not lead to a spike higher, but found sellers instead.
What we kno technically is the 100 day moving average is being broken for the first time since September 2024. Admittedly is much higher than it was in September but a break is a break. The sellers are making more of a play.
This article was written by Greg Michalowski at www.forexlive.com.
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