US stocks recover some of the declines


The major US indices are still in the red, but they are nibbling the declines.

  • The S&P hit a low of 3843.60. The current price is at 3870.65, down -29.85 points or -0.73%
  • The Nasdaq index hit a low of 11403.32. The current price is at 11507, down -27.60 points or -0.23%

Looking at the Nasdaq on the hourly chart, recent lows from the past week found a low near a swing zone near 11316.92. The price attempted to lower yesterday but remained above this level (the low reached 11337). Today’s low at 11403 is even higher. So there is a downside stall.

On the higher side, I’d like to see a return above the 61.8% broken bar at 11564.43 to give buyers some extra hope on the upside.

Interestingly, Josh Brown on CNBC talks about a roaring move to the upside. It is still bearish but sees the Vix, new 52 week lows as reasons for its uptrend, especially with higher rates.


cnbctv18-forexlive-benzinga

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button