The broader stock indices did not fare well today with the NASDAQ index the worst performer falling by -1.15%. The S&P index fell by -0.57% but the Dow industrial average gained 0.64%.
The Dow 30 gainers were help by
- J.P. Morgan +3.72%,
- Visa +2.89%,
- Home Depot, +2.20%
- 3M +2.17%
- American Express, +1.65%
- P&G, +1.39%
The NASDAQ closed right at its 100-hour moving average at 26,378.09, settling at 26,376.34. The index now sits between that moving average and the rising 200-hour moving average below at 26,302.11. If buyers are to remain in control, they will want to defend the 200-hour moving average on any further downside probe. A break below that level would shift the technical bias back toward the sellers.
The technology sector took it on the chin, with semiconductors and AI-related names leading the decline:
- Marvell (MRVL) fell -9.92%, making it the biggest loser on the list
Broader US indices close near lows. Dow industrial average closes higher.
