- Summary:
- Dow Jones retreats today from recent high but holds above the 200 day moving average as bulls are in control. On the downside, Dow Jones first support
Wall Street indices started lower today with the Dow Jones giving up 0.34% at 26,741.22. The Nasdaq currently is trading 0.89% lower at 8,014, while the S&P 500 trading 0.65% lower at 2,958.71 after the US Redbook Index (year over year) came in at 6.4% for September 6 versus previous reading of 6.5%, the monthly reading increased to -0.4% on September 6 from previous -1%. United States JOLTS Job Openings came in at 7.217M, below forecasts of 7.311M in July.
The CBOE Volatility Index or fear index is adding 5.76% at 16.15 just to confirm the nervous market mood.
Dow Jones getting a boost from Dow +2.72%, Chevron +2.68% and Boeing +1.83, on the other hand, Merck Inc is -3.51%, Visa -3.29%, Nike -1.82% and Pfizer is -1.44%.
Dow Jones retreats today from recent high but holds above the 200 day moving average as bulls are in control. On the downside, Dow Jones first support stands at 26,721 today’s low and then at 25,576 the 200 day moving average. On the upside immediate resistance is at 26,819 today’s high and then at 27,273 the high from July 31st. The technical outlook for Dow Jones is bullish, and only a break below 26,000 will question the positive momentum.
The European Indices trading mixed for one more day, the DAX 30 is 0.20 percent higher at 12,250 while CAC 40 in Paris trades 0.11 percent lower at 5,583. The FTSE 100 is 0.02 lower at 7,236.