The NASDAQ index led the declines in trading here today for the second consecutive day. Investors continue to lighten up on the tech/chip stocks.

  • Nvidia fell -2.05%
  • Meta fell -1.37
  • Alphabet fell -1.71%
  • Broadcom fell
  • AMD fell -3.21%
  • Super microcomputers fell -6.26%.
  • Palo Alto networks-5.69%
  • Taiwan Semi conductors fell -3.03%
  • Palantir fell-2.39%

General Motors and Ford Motor Company also fell on increased tariff

  • General Motors -7.36%
  • Ford Motors -3.79%

Looking at the major indices

  • Dow industrial average fell minus 155.09 points or -0.37% at 42299.70.
  • S&P index fell -18.89 points or -0.33% and 5693.31.
  • NASDAQ index fell -94.90 points or -0.53% at 17804.03.
  • Russell 2000 fell -8.13 points or -0.39% at 2065.69.

Both the broader S&P 500 and NASDAQ indices remain above their respective 100-hour moving averages, but they continue to trade comfortably below their 200-hour moving averages—signaling a market that’s holding on, but still under pressure.

For the NASDAQ, the 100-hour moving average is at 17,738.33, while Thursday’s close landed at 17,804.03, just 66 points above that support level. The 200-hour moving average remains well above at 18,402.06, about 600 points away, highlighting the distance bulls need to cover to reclaim stronger technical footing.

The S&P 500 also holds above its 100-hour moving average, currently at 5,657.45, with Thursday’s close at 5,693.00—a 36-point cushion. Its 200-hour moving average is up at 5,802.97, still 109 points away.

If markets see another down day Friday, both indices risk closing the week below their 100-hour moving averages, which would mark a technical shift in favor of sellers heading into next week.

Source: Forex Live